Google says Hello Moto, will accquire Motorola Mobility
In one of the most brilliant strategic moves, which will aid in Android Development and promotion, Google today announced that it will acquire Motorola Mobility for a total of $12.5 billion. Google will pay $40, in cash for each share, which is a premium of 63% to the closing price of Motorola Mobility shares on Friday, August 12, 2011.
Larry Page, CEO of Google, said, “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.”
Sanjay Jha, CEO of Motorola Mobility, said, “This transaction offers significant value for Motorola Mobility’s stockholders and provides compelling new opportunities for our employees, customers, and partners around the world. We have shared a productive partnership with Google to advance the Android platform, and now through this combination we will be able to do even more to innovate and deliver outstanding mobility solutions across our mobile devices and home businesses.”
Andy Rubin, Senior Vice President of Mobile at Google, said, “We expect that this combination will enable us to break new ground for the Android ecosystem. However, 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.”
Google will run Motorola Mobility as a separate business. The trasanction between Google and Motorola Mobility is expected to close by the end of 2011 or early 2012