Google Acquiring Motorola Mobility for $12.5 Billion
Aug 15, 2011, 16:00 (5 Talkback[s])
"Google (NASDAQ: GOOG)announced today its' intention to acquire
Motorola Mobility (NYSE: MMI) for $12.5 billion.
The deal will see Google paying $40 per share in cash for the
Motorola Mobility shares, which is a 63 percent premium over the
close at the end of trading on Friday. Google expects the deal to
close by the end of 2011.
The acquisition of Motorola Mobility will give Google its' own
hardware division for mobile devices which is something that
company has not had previously. Motorola has been one of Android's
strongest supporters with phones such as the Droid and the Xoom
tablet.
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