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Wednesday, January 29, 2014

Google is selling Motorola Mobility to Lenovo

Google is selling its Motorola Mobility mobile phone business to Lenovo for $2.91 billion (£1.76bn). Lenovo, which already produces Android smartphones, will maintain Motorola as a separate brand.

Google will keep most of the Motorola Mobility patent portfolio, although it will license these patents to Lenovo.

The deal is subject to regulatory approval in the USA and China.

Yang Yuanqing, chairman and CEO of Lenovo, said “The acquisition of such an iconic brand, innovative product portfolio and incredibly talented global team will immediately make Lenovo a strong global competitor in smartphones. We will immediately have the opportunity to become a strong global player in the fast-growing mobile space. We are confident that we can bring together the best of both companies to deliver products customers will love and a strong, growing business. Lenovo has a proven track record of successfully embracing and strengthening great brands – as we did with IBM’s Think brand – and smoothly and efficiently integrating companies around-the-world. I am confident we will be successful with this process, and that our companies will not only maintain our current momentum in the market, but also build a strong foundation for the future.”

Google agreed to acquire Motorola Mobility in August 2011, finally completing the takeover in May 2012.

[Motorola blog; Google blog]

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Author: The Fonecast
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