Chicago, Feb. 13 (PTI): Motorola Inc will split into two independent, publicly traded companies by the first quarter of 2011.

After the “planned separation”, one company will include the mobile devices and home businesses, while the other will include Motorola’s enterprise mobility solutions and networks businesses.

“The board of directors support the planned separation of Motorola into two industry-leading public companies. We believe this structure provides significant operational and strategic flexibility for both the companies, positions them for future success and enhances long-term shareholder value,” Motorola board chairman David Dorman said.

The Schaumburg, Illinois-based company’s co-chief executive officer Sanjay Jha will serve as CEO of the mobile devices and home businesses, effective immediately.

The business will offer a portfolio of mobile converged devices, digital entertainment devices in the home, end-to-end video, voice and data solutions.