LIBERTYVILLE, Ill. (AP) — Motorola Mobility Inc., a subsidiary of Motorola Inc., said it agreed to buy 4Home, which makes software designed for connected home products such as systems that let homeowners remotely adjust a thermostat. Terms were not disclosed.
Other uses for 4Home's software include products that enable people to adjust their home security settings remotely or manage music and videos shared over a home wireless network.
Motorola Inc. announced Tuesday that it will split into two companies, effective Jan. 4. Motorola Mobility will focus on the media, mobility, Internet and computing markets, while Motorola Solutions will sell communications solutions to government, public safety and enterprise customers.
Motorola shareholders will receive one share of Motorola Mobility for every eight shares of current Motorola shares they hold, Motorola expects the acquisition to close by the end of the year.
Motorola Inc.'s stock closed at $8.01, up 35 cents, or 4.5 percent, before the 4Home acquisition was announced. In after-hours trading, the stock added two more cents.