Lenovo completes the acquisition of Motorola Mobility from Google for a consideration of $2.91 Billion. The purchase price will be paid in $660 Million cash, $750 Million Lenovo Stocks and a three-year promissory note to Google for the balance of $1.5 Billion. Motorola, a US based company, pioneered the invention of cellular devices and was the biggest player in the mobile industry prior to Nokia’s global market domination.
The acquisition makes Motorola Mobility a wholly-owned subsidiary of Lenovo. That being said, Lenovo now owns the Motorola brand, its existing portfolio of smartphones like the Moto X and Moto G, and its future product roadmap. As Lenovo’s current success is mostly credited to its position in China, the union will be quintessential for the growth and expansion of the Company in the US, Europe and other emerging markets.