News

Lenovo Acquires Motorola Mobility from Google

In the second acquisition within a week, Lenovo has entered into an agreement with Google to acquire Motorola Mobility for $2.91 billion. It will give them access to the brand name, trademark portfolio, intellectual property and around 2000 patents. Lenovo has plunged into taking over IBM’s low end server business for $2.3 billion.

However, Google will retain the majority of patents it acquired from Motorola when it was acquired in 2011.

The deal is as follows – $660 million in cash, $750 million in Lenovo shares and $1.5 billion promissory note for a period of three years.

Lenovo chairman and CEO Yang Yuanqing quoted to the press , “The acquisition of such an iconic brand, innovative product portfolio and incredibly talented global team will immediately make Lenovo a strong global competitor in smartphones,”

“We will immediately have the opportunity to become a strong global player in the fast-growing mobile space.”

Related posts

Apple most Vulnerable and India Biggest Spammer

Abhinav Kaiser

George Floyd Killing Invokes Changes to Software Terminologies

Abhinav Kaiser

H1B Visa may be Raised in the Near Future

Abhinav Kaiser

IT News – 31 March 2012

Abhinav Kaiser

Aaron Swartz, Reddit Founder Commits Suicide

Abhinav Kaiser

IT News – 3 April 2012

Abhinav Kaiser

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.