Lenovo is acquiring the Motorola Mobility smartphone business from Google for $2.91 billion. The transaction includes the Motorola brand, and Motorola Mobility’s portfolio of smartphones. Lenovo will take ownership of the future Motorola Mobility product roadmap as well.
Yang Yuanqing (Chairman and CEO, Lenovo): We will immediately have the opportunity to become a strong global player in the fast-growing mobile space.
Google will maintain ownership of the vast majority of the Motorola Mobility patent portfolio, including current patent applications and invention disclosures. Lenovo will receive a license to this patent and other intellectual property, along with over 2,000 patent assets, as well as the Motorola Mobility brand and trademark portfolio.
Larry Page (CEO, Google): This move will enable Google to devote our energy to driving innovation across the Android ecosystem, for the benefit of smartphone users everywhere.
The transaction is subject to regulatory requirements and customary closing conditions.
[Image courtesy: Motorola Mobility]