Lenovo acquired Motorola for $2.91 billion

Google was recently rumored to sell of it's previously owned company "Motorola" to the top-notch PC manufacturer Lenovo. Now it's official and confirmed, Lenovo has acquired Motorola license, Trademarks for $2.91 billion for smartphone business with $1.41 billion due at the deal’s closing in cash and ordinary shares, and the remaining $1.5 billion as a three-year promissory note.

Google will retain the Motorola’s massive patent portfolio, including current applications and invention disclosures. Lenovo will acquire about 2,000 patents alongside the Motorola Mobility brand and its trademarks (as said above). Lenovo will receive a license for the remainder of Motorola’s portfolio which will remain at Mountain View.

After acquiring Motorola for $12.5 billion in 2012, Google raised the company’s profile last year with the launch of the characterful Moto X and Moto G duo of smartphones. Despite its efforts however, Motorola Mobility continued losing money each quarter.

The transaction between the two companies is subject to regulatory approvals in both the United States and China.

Source // Via

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