Official: Motorola Mobility To Be Bought by Google for $ 12.5 Billion

Friday 18th November 2011 - 13:27

It's official! Motorola Mobility shareholders have approved the transaction by which the company will be acquired by Google for $ 12.5 billion, but the ball is now in the competition authorities' field, which have already opened an investigation after which they will also have to give their consent for this transaction.

Motorola expects the deal will be completed at the beginning of 2012. In mid-August Google announced that it would buy Motorola Mobility in what is the biggest transaction in the history of web giant.

Motorola shareholders approved unanimously the transaction, the company being convinced that competition authorities will also give their consent. U.S authorities have also opened an investigation in September in order to see if a so big transaction has or not a negative impact over the market competition.

Motorola estimates that all approvals will be obtained before the beginning of 2012, and the transaction will be initiated at that time.

Motorola Mobility separated earlier this year by Motorola Group, which five years ago started to have serious difficulties in mobile segment, but also because they didn’t react quickly enough to come up with competitive touchscreen devices.

Motorola recorded in 2009 losses of $ 1.2 billion and last year earned operational profit of $ 76 million.

Explaining why Motorola, the company in Mountain View mentioned in the press release of announcing this important transaction that this company has 80 years of history, invented the mobile phone three decades ago and in 2008 decided to use Android OS on the entire range of smartphones, being among the first large companies that have adopted this operating system.

Google made a stock of Android adoption and says that over 150 million terminals were activated since 2007 and so far, and 550.000 are added daily.

Android handsets are sold in 123 countries under the logos of 30 smartphones manufacturers.

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