Motorola Seeks to Sell Modem Division

Motorola Inc. hired Goldman, Sachs & Co. to seek buyers for its struggling modem business, industry and financial executives said. Motorola sent information on the unit to potential buyers, including rival modem makers, said two executives who reviewed the documents. The documents say that Motorola’s Transmission Products Division, based in Huntsville, Ala., expects revenue to fall 15% to $179 million this year, a modem industry executive said. Motorola declined to comment on the possibility of selling its modem division, which is ranked No. 3 and has between 5% and 10% of the market. The Schaumburg, Ill.-based company said last month that third-quarter earnings will be 25% lower than analyst estimates amid disappointing pager sales. A Goldman Sachs spokeswoman declined immediate comment. Motorola shares fell $1.81 to close at $69.81 on the NYSE.