Published on May 22nd, 2012 | by James Johnson0
Google Officially Owns Motorola Mobility
Google is not only the world’s largest search engine, it is also now one of the largest mobile device manufacturers. The search giant announced on Tuesday that it has officially closed its $12.5 billion takeover of Motorola Mobility just four days after China approved the acquisition.
In a statement regarding the buyout Google CEO Larry Page said:
“Motorola is a great American tech company that has driven the mobile revolution, with a track record of over 80 years of innovation, including the creation of the first cell phone. We all remember Motorola’s StarTAC, which at the time seemed tiny and showed the real potential of these devices. And as a company who made a big, early bet on Android, Motorola has become an incredibly valuable partner to Google.”
After announcing the official acquisition close Page revealed that Google veteran Dennis Woodside will take over as the mobility firms chief executive, replacing Motorola’s Sanjay Jha. Woodside oversaw the acquisition of Motorola Mobility, he is a mergers and acquisitions lawyer who has been with Google since 2003.
The acquisition moved forward after the Chinese Anti-Monopoly Bureau approved Google’s big months after the United States and Europe made the same decision. Google in the meantime will have to allow Google Android to remain available for free to other manufacturers for the next five years.