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

Be the Change – Blog on Clean Water [Blog Action Day 2010]

Abhinav Kaiser

Cost of Cut Backs : Go Air Not to Hire Male Stewards… Who’s Complaining?

Abhinav Kaiser

A New Era has Begun

Abhinav Kaiser

Threats on Visual Left Side Scarier (than the Right Side)

Abhinav Kaiser

Are Good Leaders like Google or Wikipedia?

Abhinav Kaiser

Aaron Swartz, Reddit Founder Commits Suicide

Abhinav Kaiser

Leave a Comment

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