Motorola Solutions, formerly Motorola, completed the previously announced separation of Motorola Mobility Holdings.
In a release dated Jan. 4, the Company said Motorola Solutions shares begin trading on the New York Stock Exchange under the ticker symbol MSI.
Under the terms of the distribution, Motorola stockholders as of the close of business on the record date of Dec. 21, received one share of Motorola Mobility Holdings common stock for every eight shares of Motorola common stock they held. Immediately following the distribution of Motorola Mobility Holdings common stock, Motorola completed a 1-for-7 reverse stock split.
"With a purpose-driven brand and a strong balance sheet, we are very well positioned for the future," said Greg Brown, president and CEO of Motorola Solutions. "Motorola Solutions has an outstanding platform to build from and I believe our opportunities for growth will benefit customers, shareholders and employees."
Motorola Solutions is a provider of communication products and services for enterprise and government customers.
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