Lenovo Announces Acquisition of Moto Business Completed

Lenovo will hold a press conference today to announce that Lenovo’s acquisition of the Moto mobile phone business has been approved by various governments. Lenovo’s acquisition of the Moto mobile phone business has been completed.

Google will receive $2.91 billion through this transaction, but the company will initially receive only $660 million in cash. The remainder includes Lenovo’s shares worth US$750 million and the remaining US$1.5 billion will be paid in three-year promissory notes.

Why Google Sells Motorola's Smartphone Business Google is not really determined to engage in the mobile business. Larry Page, Google’s chief executive, said: “The current competition in the smart phone market is extremely fierce, and we must desperately want to make smart phone business development. This is why we think that Motorola Mobile will be led by Lenovo Group. Become stronger. Lenovo's smart phone business is growing rapidly and is already the world's largest PC manufacturer."

What did Google sell?

Motorola Mobile owns two major assets - the handset manufacturing business and more than 17,000 patents. Lenovo Group acquired the mobile phone business this time, and Google will continue to retain most of the patents. Page said that "Google will continue to retain most of Motorola's mobile patents to protect the entire Android ecosystem."