Internet Giant Google swallows up Motorola firm for $12.5bn
Published 15/08/2011 | 13:21
Internet giant Google is buying US smartphone maker Motorola Mobility for $12.5bn (€8.7bn) in cash in a bid to boost its mobile operating system.
Under the terms of the deal, Google will pay Motorola Mobility $40 per share which represents a 63pc premium on the stocks closing price Friday.
In statements, the companies said the board of the two firms had unanimously approved the deal.
Google's chief executive Larry Page says that the deal will “supercharge the entire Android ecosystem.”
The deal gives Google direct control over the manufacturer of many of its Android phones.
Mororola Mobility makes smartphones and tablets while it also manufactures wireless accessories and video and data delivery products.