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Google agrees to buy Motorola Mobility for $12.5 billion

Los Angeles Times - Aug 15, 2011

Google Inc. has agreed to buy Motorola Mobility Holdings Inc. for $12.5 billion in what would be the company's largest acquisition to date.

Motorola Mobility is one of the biggest hardware supporters for Google's Android mobile operating system, making both smartphones and a tablet computer, called the Xoom, that run on the software.

The deal would also give Google a hardware-manufacturing business, possibly to compete better with rival Apple Inc., which makes both the hardware and software for products such as the iPhone and the iPad tablet.

Google said that its $12.5-billion price would be a premium of 63% over the closing price of Motorola Mobility shares on Friday and that the proposed purchase was unanimously approved by the boards of directors at both tech firms.

In the proposed deal, Motorola Mobility would remain a licensee of Android and Android would remain open and available for use by other hardware manufacturers at no cost, as it is now. Google said it would run Motorola Mobility as a separate business.

Read Full Article from Los Angeles Times

- Posted: 2011-08-15 11:56:08

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