One possibility that has been making the rounds since the Google-Motorola Mobility deal was announced is a Microsoft acquisition of the Finnish based firm. Some believe that it would make sense since Nokia has committed itself to using Microsoft's Windows Phone Mango to replace Symbian. It is the same relationship that Google and its prey have until their deal closes. And while some point to the huge number of patents owned by Motorola as the main impetus for Google to purchase the company, Nokia does have some valuable patents of its own as Apple recently found out in paying Nokia to avoid a lawsuit.
Other companies that are riding the waves of the Google-Motorola Mobility deal today include RIM (up 4.75%) and Taiwan based HTC (up 3.38%). RIM might be seen as a possible candidate with a stock trading at about one-third of the 52 week high, but unlike Motorola Mobility, the company owns the software used on its phones, including the QNX OS expected on the next-gen BlackBerry Superphones, which reduces any possible synergy for a buyer of the company.
While sometimes a big merger sets off other combinations in the same industry, Google was looking for something more than just hardware for its Android OS. The company was seeking to control the important patents necessary to fend off an attack by Apple and thus might not lead to other combinations in the industry.