As of this week, I have a price on my head.
The announcement came at 7:30am Monday morning.
Motorola Sells Automotive Electronics Unit.
The lump sum of the story is this: There's an agreement to sell the automotive division of Motorola to Continental AG, based in Germany, for $1 Billion. Continental is mostly known for tires, but they do have some automotive components they're well known for in Europe - primarily brakes and safety systems. The purchase gives them a foot in to the North American market they didn't have before, and introduces them to the world of Telematics (OnStar, Bluetooth Car Kits, and the like), which is the world I currently live in.
The good news is that I am still employed, and my job isn't moving anywhere as Continental is buying the building I work in and making it the home base for Telematics.
So far the feeling 'round the office is positive with an air of concern - which is to be expected. Now we just have to wait for the deal to close and see what happens next.
Posted by Austin at April 05, 2006 01:31 AM