Google Selling Motorola Mobility to Lenovo for $2.91 Billion
Google is selling its Motorola Mobility division to Lenovo for $2.91 billion, according to a report from China Daily. Google acquired the company and its then 17,000-strong patent portfolio, along with 7,500 filed patents, in August of 2011 for roughly $12.5 billion.
At the time, Google said Motorola was a "natural fit" for the two companies and that it would "supercharge the entire Android ecosystem". The deal is said to include 10,000 of Motorola Mobility's patents, although it is likely that Google will retain licenses for those patents.
Lenovo Group Ltd is likely to buy Google Inc’s Motorola Mobility business, giving the Chinese company a bigger say in the global tablet and smartphone market.
The acquisition, worth at least $2 billion, will include more than 10,000 mobile communications patents currently held by the United States company, according to a person familiar with the matter.
The deal is expected to be announced on Thursday morning in Beijing.
Google's Motorola Mobility subsidiary has been a money loser for the company in recent quarters, costing the firm $248 million in the most recent quarter. Earlier this month, Google purchased the Tony Fadell-founded Nest for $3.2 billion in cash.
Update: Google has confirmed the acquisition in a blog post, saying "Motorola will be better served by Lenovo". The deal will need to be approved by both the U.S. and Chinese governments.
This move will enable Google to devote our energy to driving innovation across the Android ecosystem, for the benefit of smartphone users everywhere. As a side note, this does not signal a larger shift for our other hardware efforts. The dynamics and maturity of the wearable and home markets, for example, are very different from that of the mobile industry. We’re excited by the opportunities to build amazing new products for users within these emerging ecosystems.
Popular Stories
Apple's "Let Loose" event kicks off today at the unusual time of 7:00 a.m. Pacific Time, and we're expecting to see an iPad-focused event with new iPad Pro and iPad Air models, updated Apple Pencil and Magic Keyboard accessories, and perhaps some other announcements. Apple is providing a live video stream on its website, on YouTube, and in the company's TV app across various platforms. We...
Apple today unveiled redesigned iPad Pro models featuring the M4 chip, Ultra Retina XDR OLED displays, a nano-texture display option, and more. The new iPad Pro offers a considerably thinner design and slightly larger 11- and 13-inch display size options. The 11-inch model is 5.3mm thick and weighs less than a pound, while the 13-inch model is just 5.1mm thick and weighs a quarter pound less ...
Apple today announced that iOS 17.5 will be released to the public "soon," following over a month of beta testing. While the software update is relatively minor, it does have a few new features and changes, as outlined in the list below. "The new Pride Radiance watch face and iPhone and iPad wallpapers will be available soon with watchOS 10.5, iOS 17.5, and iPadOS 17.5," said Apple, in its...
Apple at its "Let Loose" event today announced a new Magic Keyboard for the latest iPad Pro models, with a thinner, lighter design. Apple says the Magic Keyboard has been redesigned to be thinner and lighter, while maintaing the same floating design. Two colors are available that match the new iPad Pro. New features include a function row with screen brightness controls, an aluminum...
Apple today held the first event of 2024, debuting new iPad Air and iPad Pro models and accompanying accessories. While the event was faster than normal and took 40 minutes, we've condensed it down even further for those who want a quick overview of everything that was announced. Subscribe to the MacRumors YouTube channel for more videos. We've also got a full recap of all of the coverage...
While the iPhone 16 series is still months away from launching, an early rumor about an all-new iPhone 17 model has now surfaced. In a research note with investment firm Haitong this week, analyst Jeff Pu said Apple is planning a so-called "iPhone 17 Slim" model that would replace the Plus model in the lineup. Pu said this model will feature around a 6.6-inch display, a slimmer design, an...
Apple will be holding its first event of the year this Tuesday, May 7 at 7 a.m. Pacific Time, with a live stream to be available on Apple.com and on YouTube. How long will the event be? In his newsletter today, Bloomberg's Mark Gurman said the video will have a runtime of "around 35 minutes." Apple is expected to announce new iPad Pro and iPad Air models, along with updated Apple Pencil...
Top Rated Comments
This also goes to show that Google's only interest in Moto was that they thought they could weaponize standards essential patents. Once the various judges told them to buzz off, they finally gave up.
Total wasted shareholder money: $15 billion+ when you count the two years of covering Moto's losses, the failed lawsuits, and the discount they gave Lenovo.
So Lenovo is now in the Enterprise, Consumer and Mobile space.
And all the slow-thinkers still wonder why Apple does not rush to acquire smaller companies. :rolleyes:
Lol so Apple sells 52 million iPhones (more than any quarter in their history), pockets $13 billion and their stock plummets.
Meanwhile, Google says "oops, we wasted $12.5B on Moto - here Lenovo takes this off our hands for a $9.5B loss" and their stock is up.
What....that....what?
----------
Its a shame too - although Samsung took a hit last quarter. With the news they'll be scaling back their marketing efforts, I wonder if 2014 is the year we see another OEM step up to play with Apple and Samsung.
Maybe someone else will break double digits?