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Lenovo acquires Google's Motorola Mobility business!

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Published On January 30, 2014 By Syamanth Sreejith
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Google has issued a Press Release, stating the Chinese multinational manufacturer Lenovo's acquisition over it's Motorola Mobility's business at a purchase price of 2.91 Billion Unites States Dollars. We are still in a shock to what made Google sell their two years old company to the Chinese people at a great loss. As you may be aware that the American search giant had bought the Motorola company back in 2011 for 12.5 Billion.

We head the news for a while with the taste of rumors and moments after, we saw the Americans going official with their Press Release on this deal. Basically, Lenovo will have to pay 2.91 Billion (subject to certain adjustments), where the new owner and computer manufacturer will have to pay 1.41 Billion this time around, followed by $660 Million in ready cash along with $750 Million in investments in Lenovo's ordinary shares and remaining 1.5 Billion to be paid in a three years promissory note.

The reads also mentions that this deal will give a definite boost and strengthen Lenovo's position in the smartphone industry. The company will be able to regain better business in the North and Latin Americas with Western Europe, empowering Motorola's branding in the areas. And talking about their patent portfolios, it will be remained with Google, while Lenovo will receive a license over these patents that don't go into their name and will also hold over 2000 other patents assets.

"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," said Yang Yuanqing, Chairman and CEO of Lenovo.

"Lenovo has the expertise and track record to scale Motorola Mobility into a major player within the Android ecosystem. This move will enable Google to devote our energy to driving innovation across the Android ecosystem, for the benefit of smartphone users everywhere," quoted Larry Page, Chief Executive Officer of Google.

"As part of Lenovo, Motorola Mobility will have a rapid path to achieving our goal of reaching the next 100 million people with the mobile Internet. With the recent launches of Moto X and Moto G, we have tremendous momentum right now and Lenovo’s hardware expertise and global reach will only help to accelerate this," denoted Dennis Woodside, CEO at Motorola Mobility.

Source: Google
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About author: Syamanth Sreejith

Syamanth is the Founder, Co-Owner Senior News Writer at THE PHONES GUIDE. He is a full-time media communications correspondent and mobile technology news writer and blogger, currently in charge of THE PHONES GUIDE, THE PHONES GUIDE BLOG and THE PHONES GUIDE on Medium.

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