Friday 7 February 2014
Google acquired 618.3 million Lenovo shares
Lenovo agreed to buy Google’s Motorola handset division last week for $2.91 billion in a cash and stock deal.
The deal ended Google’s short-lived foray into making consumer mobile devices and marks a pullback from its largest-ever acquisition. Google paid $12.5 billion for Motorola in 2012. Under this deal the search giant will keep the majority of Motorola’s mobile patents, considered its prize assets.
Lenovo will receive over 2,000 “patent assets” as part of the transaction, the companies said, but it remains unknown which will change hands and whether they might be subject to extra scrutiny from regulators. For Motorola, Lenovo will pay $660 million in cash, $750 million in Lenovo ordinary shares, and another $1.5 billion in the form of a three-year promissory note, Lenovo and Google said in a joint statement.
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