Lenovo To Gobble Up Motorola Mobility From Google for Almost $3 Billion
|Copyright 2014 by Virgo Publishing.|
|By: Craig Galbraith, Online Managing Editor|
|Posted on: 01/30/2014|
**Editor's Note: Please click here for a recap of the biggest channel-impacting mergers in Q4 2013.**
Lenovo, the China-based PC giant, is buying Motorola Mobility from Google for $2.91 billion. Lenovo expects the move will help strengthen its position in the smartphone market.
Google gets to keep the vast majority of the Motorola Mobility patent portfolio, including current patent applications and invention disclosures. Lenovo will receive a license to this rich portfolio of patents and other intellectual property as part of an ongoing partnership with the search giant.
“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," said Larry Page, CEO, Google.
The deal is subject to regulatory approval and customary closing conditions.
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