Lenovo Buys Motorola

Lenovo has just brought Motorola from Google for $2.91 Billion, Lenovo are paying for it in Cash and Stock, they have currently paid  $660 million cash and $750 million in stock, while the remaining $1.5 billion will be paid over three years.

Lenovo the chinese manufacturer expects to sell 100 million smartphones within a year of its take over.

Statement from Larry Page Google CEO
“Lenovo has the expertise and track record to scale Motorola Mobility into a major player within the Android ecosystem,”           “This move will enable Google to devote our energy to driving innovation across the Android ecosystem, for the benefit of smartphone users everywhere.”