Google completes deal to buy Motorola Mobility
SAN FRANCISCO - Google has announced finalization of its deal to buy Motorola Mobility, a key manufacturer of smartphones and other mobile devices, for a whopping $12.5 billion.
Google Chief executive Larry Page said in a Google blog post: "I'm happy to announce the deal has closed. Motorola is a great American tech company, with a track record of over 80 years of innovation."
The California-based search engine giant said in a statement that the acquisition will enable Google "to supercharge the Android ecosystem and will enhance competition in mobile computing".
"It's a great time to be in the mobile business, and I'm confident that the team at Motorola will be creating the next generation of mobile devices that will improve lives for years to come," Page said.
Google's acquisition of Motorola is its biggest ever deal. The deal has been completed days after it received approval from the Chinese, US and European governments.
Chinese authorities said Google must keep its mobile software, Android, free for other device makers for up to five years.
Regulators in the US have stressed that they will be watching to make sure that the Mountain View, California-based company does not use Motorola Mobility to obtain an unfair advantage in the market.
The internet giant has also named a new management team for the phone handset maker.
Google said that Motorola Chief Executive Sanjay Jha has stepped down and has been succeeded by Dennis Woodside, former president of Google's Americas region. Woodside oversaw planning for the Motorola integration.
Google's takeover of the Motorola business allows it to move into the manufacturing of phones and tablet computers for the first time.
The purchase gives Google access to more than 17,000 of the company's valuable patents.
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