Google to Sell Motorola to Lenovo for $2.91 Billion
Google today announced that it intends to sell Motorola to Lenovo for $2.91 billion. Google CEO Larry Page said that Google will hold onto the vast majority of Motorola's mobile-related patents, and will continue to use them to defend Android's position in the smartphone ecosystem. Lenovo plans to keep the Motorola brand alive, just as it did with the ThinkPad brand it acquired from IBM in 2005. According to Page, Google believes Motorola needs a hardware company to truly succeed. "Lenovo has the expertise and track record to scale Motorola into a major player within the Android ecosystem. They have a lot of experience in hardware, and they have global reach," said Page in a blog post. "This move will enable Google to devote our energy to driving innovation across the Android ecosystem, for the benefit of smartphone users everywhere." The deal will need to be approved by regulators in China and the U.S., and will take some time. Page did not say when he expects the deal to close.
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