Today Motorola Mobility is officially part of Lenovo. Today’s acquisition of the Plantation (Florida) mobile phone manufacturer finalizes the deal for Lenovo. The deal was first announced back in February for 2.91 billion. Motorola will retain its brand but is totally and unequivocally a Lenovo company.
The Motorola President Rick Osterloh explains:
“The iconic Motorola brand will continue, as will the Moto and DROID franchises that have propelled our growth over the past year…We will continue to focus on pure Android and fast upgrades, and remain committed to developing technology to solve real consumer problems.”
Prior owners, Google, initially bought Motorola Mobility for $12.5 billion in 2012. Though it is said that the acquisition was mainly interested in the company’s patent portfolio. So now Google dumps its mobile phone business, which has been losing money since the purchase. Google will still retain ownership of a majority of Motorola Mobillity’s patent portfolio, says Lenovo.
Google CEO Larry Page says that “Motorola is in great hands with Lenovo, a company that’s all-in on making great devices.”