General Dynamics Corp. agreed Monday to buy a Motorola Inc. unitthat sells secure-communication systems to government agencies, for$825 million in cash that's much needed at the Schaumburg-basedelectronics giant.
The Integrated Information Systems Group, based in Scottsdale,Ariz., is expected to ring up sales of $830 million in 2002. Thecompany will also assume some unspecified short-term debts, saidNorine Lyons, a spokeswoman for General Dynamics.
The cash infusion comes at a time when Motorola CEO Chris Galvinhas stated he will whittle down Motorola's long-term debt from thehefty $6.8 billion outstanding on June 30.
Motorola's debt as a portion of its equity …
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