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Motorola buys broadband TV company BitBand
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SCHAUMBURG, Ill. - Motorola Inc. said Monday it has agreed to acquire BitBand Technologies Ltd., a company that makes equipment for delivering television over broadband connections.
Financial details of the transaction were not disclosed.
Motorola expects to close its deal for privately held BitBand by the end of the year.
BitBand, based in Israel, will be incorporated into Motorola's Home & Networks Mobility unit, which designs and manufactures digital video technology, set-top boxes and other equipment for cable and telecommunications companies.
Motorola shares fell 3 cents to $8.75 in morning trading.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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