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Google acquires Motorola Mobility for $12.5 bln - Daily News Egypt

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Google acquires Motorola Mobility for $12.5 bln

CAIRO: Google is entering the mobile computing competition and increasing its patent portfolio with its $12.5 billion acquisition of Motorola Mobility. The deal shows that Google is easing out of its comfort zone and promising an enhanced Android experience. “Together, we will create amazing user experiences that supercharge the entire Android ecosystem for the benefit …


CAIRO: Google is entering the mobile computing competition and increasing its patent portfolio with its $12.5 billion acquisition of Motorola Mobility.

The deal shows that Google is easing out of its comfort zone and promising an enhanced Android experience.

“Together, we will create amazing user experiences that supercharge the entire Android ecosystem for the benefit of consumers, partners and developers,” Larry Page, CEO of Google, said in a statement.

Google will pay Motorola Mobility $40 per share cash, a 63 percent premium to the closing price of Motorola Mobility shares on Friday, according to a statement.

“We have shared a productive partnership with Google to advance the Android platform, and now through this combination we will be able to do even more to innovate and deliver outstanding mobility solutions across our mobile devices and home businesses,” Sanjay Jha, CEO of Motorola Mobility, said.

Despite the acquisition, Motorola Mobility, a dedicated Android partner, promises that Android will remain open and that it will remain a licenses.

“Motorola Mobility’s total commitment to Android has created a natural fit for our two companies,” Page said.

Google plans to run Motorola Mobility as a separate business.

Andy Rubin, senior vice president of mobile at Google, said that Google will continue working with their Android partners to develop and distribute innovative Android-powered devices.

“Our vision for Android is unchanged and Google remains firmly committed to Android as an open platform and a vibrant open source community,” Rubin said.

Jha said that this transaction offers significant value for Motorola Mobility’s stockholders and “provides compelling new opportunities for our employees, customers, and partners around the world.”

The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the US, the European Union and other jurisdictions, and the approval of Motorola Mobility’s stockholders.

It is expected to close by the end of 2011 or early 2012.

“I look forward to welcoming Motorolans to our family of Googlers,” Page said.

 

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https://www.dailynewsegypt.com/2011/08/17/google-acquires-motorola-mobility-for-125-bln/
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