The Two Giants, Google and Motorola has just surprised us with sending a Press Release. The Google Inc. and Motorola Mobility Holdings, Inc. has announced that they have reached to agreement that Google will acquire Motorola Mobility at Price of $40.00 per share in cash payment.
The companies revealed that total of $12.5 billion would be paid by Google, which is a premium of 63% closing share price of Motorola Mobility on Friday, August 12, 2011. This is also mentioned that this deal has been approved by the board of directors of both companies Google and Motorola. Commenting on this occassion, Sanjay Jha, CEO of Motorola Mobility, said, “This transaction offers significant value for Motorola Mobility’s stockholders and provides compelling new opportunities for our employees, customers, and partners around the world. We have shared a productive partnership with Google to advance the Android platform, and now through this combination we will be able to do even more to innovate and deliver outstanding mobility solutions across our mobile devices and home businesses.”
Google has planned to run Motorola Mobility as a separate business, but Motorola will be remain as a Android Partner in future also. Google’s CEO Mr. Larry Page mentioned that the both companies will together work to supercharge the Android ecosystem and this will enhance the competition in mobile computing Industry. He said, “Together, we will create amazing user experiences that supercharge the entire Android ecosystem for the benefit of consumers, partners and developers. I look forward to welcoming Motorolans to our family of Googlers.”
However, the transaction is expected to be finished by 2011 end or early 2012, the companies mentioned that all depends on closing conditions such as aproval of Motorola Mobility stockholders as well as receipt of regulatory approvals in the U.S., European and other countries or jurisdictions.
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