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January 30, 2014

Lenovo to acquire Motorola Mobility from Google in $2.91 billion deal

In a surprise announcement this afternoon, Google has revealed that it's to sell Motorola Mobility, the smartphone maker it acquired along with other bits of Motorola in 2012, to Chinese firm Lenovo in a deal worth $2.91 billion. That total amount consists of $660 million in cash, $750 million Lenovo shares and a $1.5 billion promissory note.

Google says it'll retain "the vast majority" of the Motorola patent portfolio, to which Lenovo will receive a license; Lenovo will also receive more than 2,000 patent assets. And the company will take ownership of the "future Motorola product roadmap," as well as the Motorola Mobility brand and trademark.

[via Android Central]