Motorola (NYSE: MOT) has hit another milestone in achieving its goal of splitting the company into two by the first quarter of next year — it’s named the two entities.
Leveraging the brand-name recognition of Motorola, both companies will continue to use the namesake. The Mobile Devices and Home Division will be renamed as Motorola Mobility and the Enterprise Mobility Solutions and Networks businesses will be called Motorola Solutions.
The actions were taken as part of a slightly more bureaucratic step. Motorola created a new wholly owned subsidiary called Motorola SpinCo Holdings, which filed paperwork today with the SEC. Motorola SpinCo is the holding company for Motorola Mobility. Sanjay Jha, who will become CEO of Motorola Mobility, said in a release: “Mobile Devices has made significant progress in 2010, and we are confident that the Separation is the right strategy for Motorola, our stockholders, our customers, our partners and our employees.”