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Lenovo buys Google's Motorola Mobility business

2014-01-30 01:42:00| Telecompaper Headlines

(Telecompaper) Lenovo will acquire Google's Motorola Mobility smartphone business in a USD 2.91 billion deal. The consideration includes USD 1.41 billion paid at close, comprised of USD 660 million in cash and USD 750 million in Lenovo ordinary shares, while the remaining USD 1.5 billion will be paid in the form of a three-year promissory note. The acquisition includes the Motorola brand and Motorola Mobility's portfolio of smartphones while Google will maintain ownership of the vast majority of the Motorola Mobility patent portfolio. As part of its ongoing relationship with Google, Lenovo will receive a licence to this portfolio of patents and other intellectual property. The transaction is subject to the satisfaction of regulatory requirements and customary closing conditions.

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Lenovo buys Motorola from Google for $2.91 billion

2014-01-30 01:00:00| Total Telecom industry news

Chinese firm becomes world's third largest smartphone maker; Google retains Motorola patents.

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Lenovo to buy Motorola smartphone division from Google for $2.91 billion

2014-01-30 00:53:05| InfoWorld: Top News

Lenovo Group is buying the Motorola smartphone and tablet division at Google for nearly $3 billion. Google confirmed the purchase in a statement released late this afternoon. In that statement, Google said it would retain ownership "of the vast majority of the Motorola Mobility patent portfolio, including current patent applications and invention disclosures. As part of its ongoing relationship with Google, Lenovo will receive a license to this rich portfolio of patents and other intellectual property."

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