Google Buys Motorola Mobility for $12.5 Billion
19 Aug 2011 | Android , Financial , Google , Motorola | 0 comments
Google this week announced the purchase of Motorola Mobility Holdings. The Android maker will pay $40 per share, or a total of $12.5 billion.
The board members of both companies unanimously approved the transaction, which will enable Google to enhance competition in the smartphone market.
"Together, we will create amazing user experiences that supercharge the entire Android ecosystem for the benefit of consumers, partners and developers. I look forward to welcoming Motorolans to our family of Googlers," said Google CEO, Larry Page.
The transaction is expected to close by the end of this year or early 2012, so a new phone from the joint companies is still far away. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the US, the European Union and other jurisdictions, and the approval of Motorola Mobility's stockholders.
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