It’s Done! Lenovo Now Officially Owns Motorola
Today, Motorola officially announced that Lenovo has completed the acquisition of Motorola Mobility and the company is now a part of the Lenovo family.
Lenovo Group Ltd has finally closed its $2.91 billion acquisition of the Motorola handset unit from Google Inc and is preparing itself for a fresh attack on the U.S smartphone market. The purchase comes as Lenovo, the world’s leading PC maker, is trying to integrate its business into various segments and establish itself as a smartphone maker with global appeal.
Back in 2012, Google acquired Motorola Mobility and its patent for $12.5 billion but was unable to revive the company to its old glory.
“The iconic Motorola brand will continue, as will the Moto and DROID franchises that have propelled our growth over the past year,” explains Rick Osterloh, Motorola President, “We will continue to focus on pure Android and fast upgrades, and remain committed to developing technology to solve real consumer problems.”
“Google will maintain ownership of a majority of the Motorola Mobility patent portfolio, while Motorola will receive a license to this rich portfolio of patents and other intellectual property,” says Lenovo. Google’s CEO Larry Page said, “Motorola is in great hands with Lenovo, a company that’s all-in on making great devices.”