Lenovo completes acquisition of Motorola Mobility from Google

News
By published

It's taken more or less the whole year, but Lenovo has now completed the acquisition of Motorola Mobility from Google – and it's become the world's third largest smartphone maker in the process.

We first had confirmation that Lenovo had moved to purchase the Motorola brand and its portfolio of smartphones such as the Moto X and Moto G back in January, with the deal worth $2.91bn.

The deal also signals the end of what seemed like a whirlwind association between Motorola and Google, with the US internet giant paying $12.5bn for the mobile manufacturer in May 2012.

It's believed the agreement will see Google net $660m in cash; $750m in Lenovo shares; and the final $1.5bn paid in a three-year promise. Google will, however, retain many of Motorola's patents.

MORE: Lenovo launches Yoga Tablet 2 Pro for "entertainment buffs"

Lenovo executive vice president Liu Jun – also president of Lenovo's mobile division – is the new chair of the Motorola management board, with Rick Osterloah remaining president and CEO.

Liu Jun said: "Motorola has already built solid momentum in the market, and their recent results show consumers are excited about their exceptional products that stand out for their design and simplicity.

Pete Hayman

Pete was content editor on What Hi-Fi?, overseeing production and publication of digital content. In creating and curating feature articles for web and print consumption, he provided digital and editorial expertise and support to help reposition What Hi-Fi? as a ‘digital-first’ title; reflecting the contemporary media trends. He is now a senior content strategist.