Goldman Sachs has won the mandate to manage the initial public offering (IPO) of Motorola's semi-conductor unit, SPS Spinco, in a deal that could earn the bank $140m ($113m) in fees.

Motorola, the US telecoms equipment maker, plans to spin-off its semi-conductor business through a $2bn IPO next year, according to a Securities and Exchange Commission (SEC) filing. Goldman was hired in October to advise on the spin-off and will now underwrite the offer.