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  • Friday, April 19, 2024

Google to Acquire Motorola Mobility for $12.5B Cash

Google Inc. (NASDAQ: GOOG) has definitively agreed to acquire Motorola Mobility Holdings Inc. for about $12.5 billion in cash, or $40 per share.

Google will run Motorola Mobility as a separate business.

The board of directors of both companies have unanimously approved the move. The transaction still needs approval by Motorola Mobility’s stockholders and U.S. and E.U. regulatory bodies.

The acquisition is expected to close by the end of 2011 or early 2012.

Google said the acquisition will enable it to “supercharge” its Android ecosystem and make it more competitive in the mobile computing industry. Motorola Mobility will remain a licensee of Android and Android will remain an open platform for developers.

“Motorola Mobility’s total commitment to Android has created a natural fit for our two companies, ” said Larry Page, Google’s CEO. “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.”

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