Motorola spun off its semiconductor production sector as Freescale Semiconductor in July 2004, through a $1.58 billion IPO of roughly 121.6 million shares of Class A common stock at $13 per share, about 30% of the company's equity. Together with a debt offering, Freescale raised approximately $2 billion. Motorola retained its 67.5% ownership of Freescale until December 2004, when the parent company distributed all its Class B stock to Motorola shareholders. The company was taken private in 2006 and public again in 2011. With more than 50 years of experience in technology development, Freescale serves the automotive, consumer, industrial and networking markets with a broad range of microprocessors, microcontrollers, analog ICs and sensors. Headquar- tered in Austin, Texas, the company maintains design, R&D, manufacturing and sales operations in more than 20 countries.
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