Report says Google is closing bids on sale of Motorola set-top division

Google may be about to close bidding on an auction to shed part of its Motorola Mobility assets, with the company's set-top box business expected to fetch as much as $2.5 billion.

CNET reported Friday that Google may be on the verge of wrapping up bids on Motorola's set-top box division, part of the search giant's $12.5 billion acquisition of Motorola Mobility earlier this year.

Although Google has yet to publicly confirm any sale of Motorola-owned assets, a Wall Street Journal report earlier Friday quoted sources with knowledge of the proceedings, which are expected to close by the end of the day.

The Motorola set-top box division is expected to be auctioned off for somewhere in the neighborhood of $1.5 billion and $2 billion, but sources claim the bidding could go as high as $2.5 billion.

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Google's announcement of the Motorola Mobility acquisition back in May was clearly targeted as procuring the company's smartphone intellectual property.

The division also builds set-top box hardware for cable television companies, a money-making business, which Google insiders believe has little opportunity for future growth.

Among the companies believed to be placing bids on the set-top division are competitor Pace and telecommunications equipment maker Arris Group.

A Google spokeswoman declined TechRadar's request for comment on this rumor.

Via CNET, The Wall Street Journal