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"Google completes $12.5 billion Motorola takeover"

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Monday 28 May 2012

"Google completes $12.5 billion Motorola takeover"

Google has finalised its longstanding takeover bid of Motorola Mobility, acquiring the handset and tablet manufacturer in a deal worth $12.5 billion (£7.9bn).

With the first motions in the takeover kicked around last August, Google and Motorola have now finalised a deal with pen and paper combining just days after Chinese parties gave the bid the green light.

Acquiring a number of valuable patents and intellectual property rights in the buyout, it is yet unclear how Google will utilise its newly purchased manufacturing and hardware arm in the near future with many suggesting future Android launching Nexus marked handset will sport Motorola branding.

Spelling the end for the independent ownership of the Motorola Mobility brand, the takeover has seen Motorola CEO Sanjay Jha removed from his post with “long-time Googler” Dennis Woodside taking the help of the company responsible for the Razr and Xoom devices.

"It's a well known fact that people tend to overestimate the impact technology will have in the short term, but underestimate its significance in the longer term," Google co-founder and CEO Larry Page announced via the official Google blog in the wake of the takeover finalisation.

"Many users coming online today may never use a desktop machine, and the impact of that transition will be profound - as will the ability to just tap and pay with your phone,” he added. “That's why it's a great time to be in the mobile business, and why I'm confident Dennis and the team at Motorola will be creating the next generation of mobile devices that will improve lives for years to come."

source: TechRadar

Labels: Google, Technology News, Top news

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