Google Completes Acquisition Of $12.5 Billion Motorola Mobility

Posted on May 22 2012 - 1:15pm by Editorial Staff

Here is the big news coming up after completing a nine-month long journey: Google announced today that the acquisition of Motorola Mobility has closed, means the deal is done now and the search giant has acquire the $12.5 billion entity – the Motorola Mobility. The Chinese authority over the weekend approved Google’s $12.5 billion Motorola Mobility acquisition which later Motorola Mobility filed an 8-K form noting that it will close in the next two days and here it is done today.

Google will run Motorola Mobility as a separate business. Sanjay Jha, who revived Motorola’s Mobile Devices business and led the company through this acquisition, has stepped down as CEO, although he will continue to work with Google to help ensure a smooth transition. Dennis Woodside, who has overseen integration planning for the acquisition and previously served as President of Google’s Americas region, has become CEO of Motorola Mobility.

Larry Page, CEO of Google, said, “I’m happy to announce the deal has closed. Motorola is a great American tech company, with a track record of over 80 years of innovation. It’s a great time to be in the mobile business, and I’m confident that the team at Motorola will be creating the next generation of mobile devices that will improve lives for years to come.”

Going back to the story, after suspending the hearings by EU regulators early last December to seek more information about Google’s acquisition of Motorola Mobility, the commission set February 13 as a deadline for the mulling the deal – and both European Commission as well as U.S. Department of Justice approved Google’s proposed acquisition of Motorola Mobility, which the company announced in August and what awaits is China’s approval and the story moved further with Chinese government approved.

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.