Lenovo now officially owns Motorola

[Dinesh jain]

Lenovo on Thursday announced that it had
completed acquisition of Motorola from
Google. The sale was announced earlier this
year. Lenovo, which is a Chinese company,
also said that after the acquisition of Motorola,
it is now world's third biggest smartphone
maker.
"Today we achieved a historic milestone. By
building a strong number three and a credible
challenger to the top two in smartphones, we
will give the market something it has needed:
choice, competition and a new spark of
innovation," said Yang Yuanqing, chairman and
CEO, Lenovo.
"This partnership has always been a perfect
fit. Lenovo has a clear strategy, great global
scale, and proven operational excellence.
Motorola brings a strong presence in the US
and other mature markets, great carrier
relationships, an iconic brand, a strong IP
portfolio and an incredibly talented team. This
is a winning combination," he added.
Lenovo said that Rick Osterloh, a Motorola
veteran, will remain president and chief
operating officer of Motorola.
Lenovo will operate Motorola as a wholly-
owned subsidiary. Motorola's headquarters will
remain in Chicago. "With the completion of the
acquisition, Lenovo welcomes the addition of a
new portfolio company with nearly 3,500
employees around the world - including about
2,800 in the US - who design, engineer, sell and
support Motorola's outstanding devices," the
Chinese company said in a statement.

Lenovo completes Motorola deal, says it is 3rd biggest phone maker now

 

[iSK]

Lenovo closes $2.91 billion
acquisition of Motorola

BEIJING: China's Lenovo Group said
on Thursday it has closed its $2.91
billion acquisition of the Motorola
handset unit from Google, paving the
way for a fresh assault on the US
smartphone market.

The purchase comes as Lenovo, the
world's leading PC maker, ramps up
its effort to diversify its business and
establish itself as a smartphone
maker with global appeal.

Google acquired the iconic
smartphone brand and its prized
patent portfolio in 2012 for $12.5
billion but struggled to reverse
Motorola's years-long decline. Under
the Lenovo deal, Google will retain a
significant portion of Motorola's
patents.

Lenovo closes .91 billion acquisition of Motorola - TOI Mobile | The Times of India Mobile Site