Motorola Venture Arm to Boost Investment
Motorola Venture Arm to Boost InvestmentCORRECTED: Motorola Venture Arm to Boost Investment
Motorola Venture Arm to Boost Investment
Sunday January 23, 3:12 pm ET
By Deborah Cohen
CHICAGO (Reuters) - Motorola Inc.'s venture capital arm aims to boost its investments to more than $100 million this year, betting on technologies including automotive electronics, high-speed wireless communications, and advanced optical systems, its chief told Reuters.
Warren Holtsberg, 54, the corporate vice president in charge of the division, said in a recent interview that Motorola Ventures wants to make its parent more competitive in technologies that support advanced networks and electronics
Motorola Ventures has averaged about $100 million in investments each year, he said. Last year, it took stakes in some 25 start-ups, including KXEN, a predictive modeling software developer, SkyBitz, a maker of satellite fleet tracking systems, and Camero, which builds radar imaging. It has some 70 holdings.
The annual venture capital investment may be a drop in the bucket for the world's No. 2 cell phone maker, which had $31.3 billion in sales last year. But it still ranks the Motorola unit among the top five venture arms of U.S. corporations,
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