 Motorola is believed to be divesting Soundbuzz as it plans to withdraw from the MotoMusic operations in India, Singapore and Vietnam. The Soundbuzz White Label business in Australia, India, Indonesia and Singapore will also form a part of the divesture.
However, China will remain unaffected.
The move was announced in line with the cost reduction exercise initiated by Motorola Mobile Devices.
Meanwhile, Motorola has also started looking for potential buyers. Rejecting speculations of bankruptcy, the mobile phone company said the impact of the move on its employees can be known only after the completion of divesture.
Soundbuzz has 60 employees spread across its offices in Singapore, India and Australia.
Singapore-based Soundbuzz was founded in 1999 by MTV Asia MD Sudhanshu Sarronwala. Motorola acquired the company in May last year in a definitive agreement.
The divesture will start from 31st July 2009 onwards. |