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News Google officially acquires Motorola Mobility for USD 12.5 billion
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Google officially acquires Motorola Mobility for USD 12.5 billion |
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Thursday, 24 May 2012 |
Google Inc has acquired Motorola Mobility Holdings, Inc (MMI) for Rs 2200 (USD 40) per share in cash. The acquisition will enable Google to supercharge the Android ecosystem and will enhance competition in mobile computing. Motorola Mobility will remain a licensee of Android and Android will remain open. Google will run Motorola Mobility as a separate business.
Sanjay Jha has stepped down as CEO of Motorola Mobility with Dennis Woodside taking over his position; Jha will continue to work with Google to help ensure a smooth transition. Larry Page, CEO of Google, said, “I’m happy to announce the deal has closed. Motorola is a great American tech company, with a track record of over 80 years of innovation. It’s a great time to be in the mobile business, and I’m confident that the team at Motorola will be creating the next generation of mobile devices that will improve lives for years to come”. –Communications Today Bureau
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