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Google Acquires Motorola Mobility in $12.5bn Deal
Ayinde O. Chase
Mountain View, CA
Google Inc. has inked a deal that would have the Internet technology giant acquire Motorola Mobility Holdings Inc. for nearly $12.5 billion in cash. The acquisition would make valuable intellectual property maker Google more competitive in the mobile-computing market.
Google said it would pay $40 a share in cash for Motorola, signaling a price 63 percent above the company's closing price on Friday.
"The combination of Google and Motorola will not only supercharge Android, but will also enhance competition and offer consumers accelerating innovation, greater choice, and wonderful user experiences," Google CEO Larry Page wrote in a post on the company's official blog.
The move comes just eight months after the split of Motorola Inc., and would enable Google control of Motorola Mobility's highly desirable patent portfolio. Google, which also owns the growing Android operating system in millions of mobile phones, has a small assemblage of wireless and telecommunications patents.
"This transaction offers significant value for Motorola Mobility's stockholders and provides compelling new opportunities for our employees, customers, and partners around the world," Motorola Mobility CEO Sanjay Jha said in a statement.
Google will run Motorola Mobility as a separate business that will remain a licensee of Android. Google also said Android will remain an open platform.
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