GD to Buy Motorola Unit

GD to Buy Motorola Unit

General Dynamics Corp. is set to purchase Motorola Inc.'s Integrated Information Systems Group for $825 million in cash and assumption of certain liabilities and obligations, General Dynamics announced Aug. 6.

The transaction has been approved by the boards of directors of both companies, subject to normal regulatory approval, and is expected to close within 60 days. The Motorola unit will become part of General Dynamics' Information Systems and Technology group.

The Integrated Information Systems Group, based in Scottsdale, Ariz., provides defense and government customers with technologies, products and systems for secure communication, information assurance, situational awareness and integrated communications systems. The unit has 3,000 employees and projected 2002 revenue of about $830 million.

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