It's official: Motorola and Lenovo finally tie the knot, the $2.9 billion deal with Google is complete at long last

It's official: Motorola and Lenovo finally tie the knot, the $2.9 billion deal with Google is complete at long last
Almost ten months after it was announced that Google has decided to part with Motorola Mobility and sell it to Lenovo for $2.91 billion ($660 million in cash, $750 million of ordinary Lenovo shares, and a three-year promissory note worth $1.5 billion), the acquisition deal between the smartphone makers has been finally completed. Motorola and all of its 3,500 employees around the world are now part of Lenovo.

This was announced by Lenovo in a press release, which details the main strengths of Motorola and its not-so-large, yet more than adequate portfolio that comprises noteworthy device lines like the G, X, E, and DROID families. Just as expected, Motorola will be a wholly-owned subsidiary, its CEO Rick Osterloh will keep his executive position, and the company's HQ will remain in Chicago. 


As per Lenovo, this acquisition will will allow the new conglomerate to stir the current state of affairs on the smartphone market. Just yesterday, it became clear that Lenovo might have already lost a place or two in the global leader board as Xiaomi continues its onward crusade and is now the third largest smartphone maker as a whole.
Motorola's “built solid momentum” will surely aid Lenovo in its quest for even better financial results and higher sales. Thus, the China-based owner of Moto hopes that it will sell more than 100 million devices this year, because of its “shared momentum in emerging markets, and Motorola’s strong foothold in mature markets like the U.S.“

Apart from the vast portfolio of patents, the Motorola-made Google Nexus 6 is another precious parting gift that Motorola gave to the Mountain View search giant. Oh, and let's not forget about that long-promised new Motorola tablet!

Liu Jun, president of Lenovo, Yang Yuanqing, Lenovo Chairman and CEO, and Rick Osterloh, President and COO of Motorola, announce the completion of the acquisition

Liu Jun, president of Lenovo, Yang Yuanqing, Lenovo Chairman and CEO, and Rick Osterloh, President and COO of Motorola, announce the completion of the acquisition


source: Lenovo via Recode

FEATURED VIDEO

22 Comments

1. XperiaFanZone

Posts: 2277; Member since: Sep 21, 2012

Lol...2.9 dollars...what a deal!

4. tech2

Posts: 3487; Member since: Oct 26, 2012

2.9 dollars for an entire company seems less.

5. XperiaFanZone

Posts: 2277; Member since: Sep 21, 2012

They've corrected the title.

9. PeterK.

Posts: 314; Member since: Nov 13, 2013

Yep, thanks for pointing out the typo!

2. HugoBarraCyanogenmod

Posts: 1412; Member since: Jul 06, 2014

Finally I can stock some Moto x and Moto g and sell to my loyal customers

3. xperiaDROID

Posts: 5629; Member since: Mar 08, 2013

Your so-called "loyal customers" must be your family and relatives. Because no one buys from a biased seller like you.

12. Tritinum

Posts: 471; Member since: May 06, 2014

oooh dammmn shots fired!

6. RaKithAPeiRiZ

Posts: 1488; Member since: Dec 29, 2011

now go make some cute babies

7. Af1rPA

Posts: 712; Member since: Jun 12, 2014

First line of business should be to tweak the Moto X. Battery, Camera & replace giant dimple for small dimple.

8. azzak

Posts: 26; Member since: May 15, 2014

hope Lenovo didn't ruins Motorola in future..

10. surethom

Posts: 1618; Member since: Mar 04, 2009

Finally, hopefully we will see more motorola phones outside america & please bring the Moto g 2014 16gb to the UK.

14. sgodsell

Posts: 6902; Member since: Mar 16, 2013

You do know that the moto g 2014 comes with a micro SD slot, so you can update the storage yourself. Not to mention with WiFi storage devices like the Sandisk Connect its easy to add storage to almost any phone while the WiFi storage is on your key chain.http://www.phonearena.com/reviews/SanDisk-Connect-Wireless-Flash-Drive-Review_id3570

11. palmguy

Posts: 965; Member since: Mar 22, 2011

Please, not another HP/Palm purchase. Be good for Moto. RIP webOS :( Can't wait for Lollipop on my OG Moto X :)

13. Sakeem

Posts: 857; Member since: Sep 05, 2012

Kind of worried about this acquisition. Hopefully it works out well for Moto.

16. spatel133

Posts: 1; Member since: Oct 30, 2014

should work out. google gave moto the nexus 6 to produce and that definitely going to help boost sales/profits. the nexus phones are purchased everywhere but at 600 who knows how popular it will be.

15. Odiin

Posts: 373; Member since: Apr 23, 2013

Happy Married Life!

17. Aniket8593

Posts: 3; Member since: Apr 27, 2013

I would like only if it with Google ....from now on moto has to survive what Lenovo shountnt have expertise... sad for moto...

21. Chuck007

Posts: 1410; Member since: Mar 02, 2014

People who currently work for Moto still work for Moto. Lenovo will bring their phones to more parts of the world. Don't see how that is bad?

22. Furbal unregistered

Lenovo knows how to do hardware. I don't think IBM would have sold them most of their hardware division if they thought they'd ruin system x and thinkpad name

18. InspectorGadget80 unregistered

Just hope they won't change the name is all I care bout

19. techloverNYC

Posts: 601; Member since: Nov 20, 2012

Such a deal, an app these day will cost companys more.

20. liftmeup unregistered

Number three in the world?

Latest Stories

This copy is for your personal, non-commercial use only. You can order presentation-ready copies for distribution to your colleagues, clients or customers at https://www.parsintl.com/phonearena or use the Reprints & Permissions tool that appears at the bottom of each web page. Visit https://www.parsintl.com/ for samples and additional information.