Lenovo To Buy Motorola From Google For $2.91 Billion?
@dhananjay-0OEUGZ
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Oct 26, 2024
Oct 26, 2024
1.8K
Lenovo, world’s largest PC manufacturer, will buy Google Inc’s Motorola Mobility handset unit for about $2.91 Billion, as per reports. This would give the Chinese company a bigger say in the global tablet and smartphone market. This will be the fourth largest US acquisition for a Chinese or Hong Kong based company ever. Larry Page, CEO, Google said via blog that he is phenomenally impressed with what Motorola has achieved and added further that it will continue to build more and more great products with Lenovo as a partner.
In 2011, Google acquired Motorola Mobility unit for $12.5 Billion. This was a money-loss subsidiary business for Google. According to Google’s financial reports, Motorola Mobility suffered $248 million operating loss in 2013. Earlier this week, Lenovo said it will buy IBM’s low-end server unit for $2.3Billion. Together with IBM agreement, Lenovo has agreed to fork as many as 800 million shares representing about 7.7 percent of its outstanding stock. With its acquisition of Motorola, Lenovo is emerging as the most viable contender to global smartphone leaders like Apple and Samsung.
Yang Yuanquing, chairman and CEO of Lenovo said that the company’s smartphones and tablets will be entering in US and western European markets by 2015. These markets are dominated by Apple and Samsung. Lenovo, the world’s largest PC maker is speeding its pace challenging Apple and Samsung in global consumer electronics sector. Lenovo will receive about 2000 patent assets as a part of its transaction. For Motorola, Lenovo would pay $660 million in cash, $750 million in shares and $1.5 billion in the form of 3 year promissory note, Lenovo and Google said in a joint statement. It is now interesting to see what impact China would make with this Motorola deal and launch of “#-Link-Snipped-#†earlier this month, it would like to see home-grown competitor to Android and iOS.
Source: #-Link-Snipped-#
Image credit: Economic Times
Yang Yuanquing, chairman and CEO of Lenovo said that the company’s smartphones and tablets will be entering in US and western European markets by 2015. These markets are dominated by Apple and Samsung. Lenovo, the world’s largest PC maker is speeding its pace challenging Apple and Samsung in global consumer electronics sector. Lenovo will receive about 2000 patent assets as a part of its transaction. For Motorola, Lenovo would pay $660 million in cash, $750 million in shares and $1.5 billion in the form of 3 year promissory note, Lenovo and Google said in a joint statement. It is now interesting to see what impact China would make with this Motorola deal and launch of “#-Link-Snipped-#†earlier this month, it would like to see home-grown competitor to Android and iOS.
Source: #-Link-Snipped-#
Image credit: Economic Times
