SCHAUMBURG, Ill., – Motorola Inc. (NYSE: MOT) announced that it has signed a definitive agreement to sell its Israel based Motorola Integrated Radio System (MIRS) to the Altice Group, a European investor in media and telecommunications. The transaction is subject to customary closing conditions and terms of the agreement are not being disclosed.
Utilizing Motorola’s iDEN technology, MIRS provides telecommunications solutions to a wide range of customers in Israel including: health services, fire & rescue, and transportation,. Established in 1998, MIRS has been a subsidiary of Motorola’s Enterprise Mobility Solutions business, which serves both commercial enterprises and government and public safety customers around the world. MIRS currently serves approximately 500,000 subscribers.
“Motorola continually evaluates its operations to ensure they support our strategic direction and this ongoing analysis led Motorola to the decision to sell MIRS,” said Gene Delaney, President of Motorola Enterprise Mobility Solutions. “We are confident MIRS is a good fit for the Altice Group, an investor in media and telecommunications companies who has experience in pursuing growth opportunities in Israel’s communication industry. We greatly appreciate the many contributions and hard work by all MIRS employees and we wish them continued success.”
About Altice Group
Altice Group, founded in 2002 by a group of telecom experts, is a European investor in media and telecommunications. Through its investments, it holds indirect stakes notably in Numericable, Est Videocom, Coditel and Completel. Altice is supported in its investments by private equity funds (Pechel SGCE, ING Belgium) and a group of private investors.
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