Google To Acquire Motorola Mobility

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Google To Acquire Motorola Mobility - NJTechReviews
Google To Acquire Motorola Mobility

Today Google announced that they will be acquiring Motorola Mobility for 12.5 billion. Google will be acquiring Motorola Mobility for “40.00” per share in cash, the total will be around $12.5 Billion. This is a premium 63%, of what Motorola Mobility closed at last friday(August 12, 2011). The deal was unanimously approved, by the Board of Directors of Google and Motorola Mobility. There saying that the “Combination will Supercharge Android, Enhance Competition, and Offer Wonderful User Experiences”. It will help make Android better. Larry Page the CEO of Google had to say this about the news, “Motorola Mobility’s total commitment to Android has created a natural fit for our two companies. Together, we will create amazing user experiences that supercharge the entire Android ecosystem for the benefit of consumers, partners and developers. I look forward to welcoming Motorolans to our family of Googlers.” Motorola Mobility is becoming a Dedicated Android Partner and will supercharge all of the Android ecosystem. Overall, it sounds like Motorola will be making the top android phones. Some of the other major companies have put out statements. Peter Chou the CEO of HTC, had to say this, “We welcome the news of today’s acquisition, which demonstrates that Google is deeply committed to defending Android, its partners, and the entire ecosystem,”. Jong-Seok Park CEO and President of LG had to say this, “We welcome Google’s commitment to defending Android and its partners,”. It seems that many of the other companies are “ok” with the deal. It seems like a good deal all around, and it will ultimately make Android better. You can see the full press release below.

 

Press Release

Google to Acquire Motorola Mobility

Combination will Supercharge Android, Enhance Competition, and Offer Wonderful User Experiences
MOUNTAIN VIEW, Calif. & LIBERTYVILLE, Ill. – Aug. 15, 2011 – Google Inc. (NASDAQ: GOOG) and Motorola Mobility Holdings, Inc. (NYSE: MMI) today announced that they have entered into a definitive agreement under which Google will acquire Motorola Mobility for $40.00 per share in cash, or a total of about $12.5 billion, a premium of 63% to the closing price of Motorola Mobility shares on Friday, August 12, 2011. The transaction was unanimously approved by the boards of directors of both companies.The acquisition of Motorola Mobility, a dedicated Android partner, will enable Google to supercharge the Android ecosystem and will enhance competition in mobile computing. Motorola Mobility will remain a licensee of Android and Android will remain open. Google will run Motorola Mobility as a separate business.Larry Page, CEO of Google, said, “Motorola Mobility’s total commitment to Android has created a natural fit for our two companies. Together, we will create amazing user experiences that supercharge the entire Android ecosystem for the benefit of consumers, partners and developers. I look forward to welcoming Motorolans to our family of Googlers.”

Sanjay Jha, CEO of Motorola Mobility, said, “This transaction offers significant value for Motorola Mobility’s stockholders and provides compelling new opportunities for our employees, customers, and partners around the world. We have shared a productive partnership with Google to advance the Android platform, and now through this combination we will be able to do even more to innovate and deliver outstanding mobility solutions across our mobile devices and home businesses.”

Andy Rubin, Senior Vice President of Mobile at Google, said, “We expect that this combination will enable us to break new ground for the Android ecosystem. However, our vision for Android is unchanged and Google remains firmly committed to Android as an open platform and a vibrant open source community. We will continue to work with all of our valued Android partners to develop and distribute innovative Android-powered devices.”

The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the US, the European Union and other jurisdictions, and the approval of Motorola Mobility’s stockholders. The transaction is expected to close by the end of 2011 or early 2012

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