Motorola Interested in Buying Sagem
Shares in the parent company of the handset manufacturer, Sagem jumped sharply yesterday after Motorola said that it is interested in a possible purchase of the handset vendor. Following statements by Motorola reported in a major French daily national newspaper, Le Figaro France's Safran, which owns Sagem, said that it notes that Motorola has stated its interest in a link-up with its mobile phones business.
Safran also noted that a potential link-up with another mobile phone maker is only one possibility to ensure the sustainable success of this business.
In the originating news article, Ron Garriques, president of Motorola's mobile device business said that Motorola was primarily interested in Sagem's staff, more than any IPR that the company might own.
In the current context, Motorola, as a major player in mobile phones, remains a competitor of Sagem. The French government is a major shareholder in Safran, owning just over 30% of the company."
Posted to the site on 27th October 2006