Motorola sells off their automotive-electronics business to Continental AG

Motorola sells off their automotive-electronics business to Continental AG

US based tech giants Motorola have confirmed that they are selling off their automotive-electronics business to the world’s fourth- largest tire maker, Continental AG. This deal is worth around USD 1 Billion and would help Continental AG to expand their services in the communications for drivers segment.

This deal is expected to be complete by the first half of the year. Continental is popular for their operations based in Auburn Hills, Michigan where they manufacture tires and parts including braking systems and shock absorbers.

Continental Chief Executive Officer Manfred Wennemer had sometime back said in a statement that the company was ready to make some key investments to expand their services and they had identified potential targets in Asia and Europe and the United States.

This deal is expected to be just one of the many for the company in the coming months.