15 Aug '11, 1pm

Google buys Motorola Mobility for S$15 billion dollars

In a bid to strengthen its mobile business, Google announced today that it would acquire Motorola Mobility Holdings, the cellphone business that was split from Motorola, for US$40 (S$48) a share in cash, or US$12.5 billion. The offer - by far Google's largest ever for an acquisition - is 63 per cent above the closing price of Motorola Mobility shares on Friday. Motorola manufactures phones that run on Google's Android software. Android has become an increasingly important platform for Google, as global smartphone adoption accelerates. The platform, launched in 2007, is now used in more than 150 million devices, with 39 manufacturers. The acquisition would turn Google, which makes the Android mobile operating system, into a full-fledged cellphone manufacturer, in direct competition with Apple. The deal answers a big question about Google's next strategic step in wireless. G...

Full article: http://www.todayonline.com/TechandDigital/Digital/EDC1108...

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Google to Acquire Motorola Mobility

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