Lenovo closes deal to buy Motorola from Google
WASHINGTON: Lenovo has announced it has completed its acquisition of Motorola Mobility from Google, a move strengthening the Chinese giant’s position in the smartphone market.
The $2.9 billion deal, announced in January, ends Google’s brief ownership of the onetime mobile phone star.
By adding Motorola, Lenovo positions itself among the top global smartphone makers behind Samsung and Apple.
Lenovo will operate Motorola as a wholly-owned subsidiary, keeping the Chicago-based headquarters and adding some 3,500 employees, including 2,800 in the US.
“Today, we achieved a historic milestone for Lenovo and for Motorola — and together we are ready to compete, grow and win in the global smartphone market,” Lenovo chairman and chief executive Yang Yuanqing said in a statement.
He hailed the partnership as a “perfect fit,” adding that “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.”
In the same statement, Google CEO Larry Page said that “Motorola is in great hands with Lenovo, a company that’s all-in on making great devices.”