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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.”