Lenovo Buys Motorola from Google for $2.9 Billion

Posted by Techvibes NewsDesk

Lenovo has acquired smartphone maker Motorola in a deal worth $2.91 billion, previous owner Google has confirmed.

Google acquired Motorola in 2011 for $12.5 billion. The software giant sold off the set-top box division of Motorola for $2.35 billion last year. The smartphone maker has consistently lost money while under Google's rein.

"We believe that Motorola will be better served by Lenovo, which has a rapidly growing smartphone business and is the largest (and fastest-growing) PC manufacturer in the world," Google's Larry Page wrote in a company blog post this afternoon. "This move will enable Google to devote our energy to driving innovation across the Android ecosystem, for the benefit of smartphone users everywhere."

Lenovo will pay cash and stock for $1.41 billion of the deal, pending approval from the US and China. The balance of $1.5 billion will be paid in the form of a three-year promissory note.

Earlier this month, Lenovo acquired IBM's x86 server unit for $2.3 billion.

Google lost more than $7 billion on this Motorola deal.

Company:
Lenovo
Website:
http://www.lenovo.com
Location:
Beijing, Beijing Shi, China

Legend Group Limited is the largest IT corporation in the PRC. Its own brand PC has been the country¡¦s best-selling PC since 1997 and had a market share of about 27.3% in 2002 according to International Data Corporation. Legend is also the number one PC brand in the Asia Pacific market (excluding Japan) with a market share of 12.4%. Legend¡¦s business performance has proved that the group has deep insight into... more

Company:
Motorola Canada
Website:
http://www.motorola.com/careers
Location:
Montréal, Québec, Canada

Department Description: Business Unit Description: Motorola Canada Software Center The Motorola Canada Software Center (MCSC) is part of Motorola’s Global Software Group (GSG). GSG’s mandate is to provide software development services to all the Motorola product groups. MCSC develops software on a wide range of products and platforms. MCSC adheres to a well defined software development process and has... more

Company:
Google
Website:
http://www.google.com
Location:
Waterloo, Ontario, Canada

Google's mission is to organize the world's information and make it universally accessible and useful. As a first step to fulfilling that mission, Google's founders Larry Page and Sergey Brin developed a new approach to online search that took root in a Stanford University dorm room and quickly spread to information seekers around the globe. Google is now widely recognized as the world's largest search engine --... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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