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Google buys Motorola Mobility for $12.5bn
Will run it separately
By Kate O'Flaherty
Mon Aug 15 2011, 12:50
GOOGLE WILL BUY Motorola's handset business for $12.5bn, the two companies have announced.
The pair have entered into a definitive agreement under which Google will acquire Motorola Mobility for $40.00 per share in cash, or a total of about $12.5 billion.
Motorola Mobility will remain a licensee of Android and Android will remain open, the two companies insisted, adding that Google will run Motorola Mobility as a separate business.
In 2007, Motorola was a founding member of the Open Handset Alliance that worked to make Android an open and comprehensive platform for mobile devices.
Meanwhile, in 2008, Motorola made Android its sole operating system across all of its smartphone devices.
In 2011, Motorola spun off its handset business after years of bleeding money.
Google said on its blog today, "Motorola's total commitment to Android in mobile devices is one of many reasons that there is a natural fit between our two companies."
"Motorola will remain a licensee of Android and Android will remain open. We will run Motorola as a separate business," Google said, adding, "Many hardware partners have contributed to Android's success and we look forward to continuing to work with all of them to deliver outstanding user experiences."
The transaction is subject to customary closing conditions, including regulatory approvals in the US, the European Union and other jurisdictions, and the approval of Motorola Mobility's stockholders. The transaction is expected to close by the end of 2011 or early 2012.
Larry Page, CEO of Google said, "Motorola Mobility's total commitment to Android has created a natural fit for our two companies. Together, we will create amazing user experiences that supercharge the entire Android ecosystem for the benefit of consumers, partners and developers. I look forward to welcoming Motorolans to our family of Googlers."
Sanjay Jha, CEO of Motorola Mobility said, "This transaction offers significant value for Motorola Mobility's stockholders and provides compelling new opportunities for our employees, customers, and partners around the world. We have shared a productive partnership with Google to advance the Android platform, and now through this combination we will be able to do even more to innovate and deliver outstanding mobility solutions across our mobile devices and home businesses."
Andy Rubin, SVP of Mobile at Google said, "We expect that this combination will enable us to break new ground for the Android ecosystem. However, our vision for Android is unchanged and Google remains firmly committed to Android as an open platform and a vibrant open source community. We will continue to work with all of our valued Android partners to develop and distribute innovative Android-powered devices." µ
Will run it separately
By Kate O'Flaherty
Mon Aug 15 2011, 12:50
GOOGLE WILL BUY Motorola's handset business for $12.5bn, the two companies have announced.
The pair have entered into a definitive agreement under which Google will acquire Motorola Mobility for $40.00 per share in cash, or a total of about $12.5 billion.
Motorola Mobility will remain a licensee of Android and Android will remain open, the two companies insisted, adding that Google will run Motorola Mobility as a separate business.
In 2007, Motorola was a founding member of the Open Handset Alliance that worked to make Android an open and comprehensive platform for mobile devices.
Meanwhile, in 2008, Motorola made Android its sole operating system across all of its smartphone devices.
In 2011, Motorola spun off its handset business after years of bleeding money.
Google said on its blog today, "Motorola's total commitment to Android in mobile devices is one of many reasons that there is a natural fit between our two companies."
"Motorola will remain a licensee of Android and Android will remain open. We will run Motorola as a separate business," Google said, adding, "Many hardware partners have contributed to Android's success and we look forward to continuing to work with all of them to deliver outstanding user experiences."
The transaction is subject to customary closing conditions, including regulatory approvals in the US, the European Union and other jurisdictions, and the approval of Motorola Mobility's stockholders. The transaction is expected to close by the end of 2011 or early 2012.
Larry Page, CEO of Google said, "Motorola Mobility's total commitment to Android has created a natural fit for our two companies. Together, we will create amazing user experiences that supercharge the entire Android ecosystem for the benefit of consumers, partners and developers. I look forward to welcoming Motorolans to our family of Googlers."
Sanjay Jha, CEO of Motorola Mobility said, "This transaction offers significant value for Motorola Mobility's stockholders and provides compelling new opportunities for our employees, customers, and partners around the world. We have shared a productive partnership with Google to advance the Android platform, and now through this combination we will be able to do even more to innovate and deliver outstanding mobility solutions across our mobile devices and home businesses."
Andy Rubin, SVP of Mobile at Google said, "We expect that this combination will enable us to break new ground for the Android ecosystem. However, our vision for Android is unchanged and Google remains firmly committed to Android as an open platform and a vibrant open source community. We will continue to work with all of our valued Android partners to develop and distribute innovative Android-powered devices." µ
Izvor: The Inquirer
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