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Google now owns Motorola Mobility
23 May 2012
Sanjay Jha steps down as chief executive of Motorola Mobility as Google finally completes acquisition
Nokia Siemens Networks
Google has closed the acquisition of Motorola Mobility Holdings for $40 a share in cash, equivalent to $12.5 billion. Sanjay Jha has stepped down as CEO of Motorola Mobility but will continue to work with Google for a smooth transition.
Under this deal, Google will operate Motorola Mobility as a separate business that will allow it to improve competition in mobile computing and the Android ecosystem. Motorola Mobility will remain as a licensee of Android operating system.
Larry Page, Google’s chief executive, said: “I’m happy to announce the deal has closed. Motorola is a great American tech company, with a track record of over 80 years of innovation. It’s a great time to be in the mobile business, and I’m confident that the team at Motorola will be creating the next generation of mobile devices that will improve lives for years to come.”
Dennis Woodside, who has become CEO of Motorola Mobility in place of Jha, was responsible for integration planning for this buyout and earlier has served as president of Google’s Americas region.
Woodside said: “Motorola literally invented the entire mobile industry with the first-ever commercial cellphone in 1983. Thirty years later, mobile devices are at the centre of the computing revolution. Our aim is simple: to focus Motorola Mobility’s remarkable talent on fewer, bigger bets, and create wonderful devices that are used by people around the world.”
Nokia Siemens Networks bought the equipment side of Motorola in a $975 million deal concluded in mid-2011. GTB
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