Google buys Motorola Mobility for $12.5 billionAugust 16th, 2011 - 12:53 am ICT by Aishwarya Bhatt
Washington, August 15 (THAINDIAN NEWS) Internet giant Google has purchased Motorola’s Mobility for $12.5 billion. The deal was announced on Monday. There had been reports earlier that Google was in negotiations with Motorola concerning the takeover.
The chief executive of Google, Larry Page, told reporters that the decision to acquire Motorola was inspired by the motivation to drive the Android platform further. Android is currently the world’s biggest smartphone platform overtaking that of Apple.
In a post on his blog on Monday morning, Page wrote that, ”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…`I am confident that these great experiences will create huge value for shareholders.”
With the acquisition of Motorola Mobility, Google has added the production of smartphone to its list of businesses. Motorola will now be involved in servicing. The company is holding on to the Motorola Solutions Inc.
Android is currently on almost 40 smartphones. Page said before they finalized the negotiations for the acquisition of Motorola Mobility, they consulted all their partners. The takeover is expected to be completed early next year. The boards of Google and Motorola have already given their approval to the deal.
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