It has been announced that Google has acquired Motorola Mobility for $40.00 per share or $12.5 billion. This is Google’s largest acquisition with the aim to challenge Apple as a handset producer.
Google Acquires Motorola Mobility for $12.5 Billion
Larry Page CEO of Google had this to say of the acquisition:
“Motorola Mobility’s total commitment to Android has created a natural fit for our two companies. Together, we will create amazing user experiences that supercharge the entire Android ecosystem for the benefit of consumers, partners and developers. I look forward to welcoming Motorolans to our family of Googlers.”
Andy Rubin, Google’s senior vice president of mobile, said in a statement that the Android platform will remain open:
“Our vision for Android is unchanged, and Google remains firmly committed to Android as an open platform and a vibrant open source community. We will continue to work with all of our valued Android partners to develop and distribute innovative Android-powered devices.”
Motorola is a great business and has over $3 billion in the bank. They also have 19,000 employees and produce set top boxes and phone accessories. It will be interesting to see how they can put both businesses together.