Monday, August 15, 2011

Google Gobbles Motorola Mobility announced that Google has just purchased Motorola Mobility for $12.5 billion. This is widely seen as a challenge to smartphone makers such as Apple, Samsung, and HTC Corp. To sweeten the deal for Motorola shareholders, they offered a 73% premium.

Motorola Mobility was spun off from Motorola Inc., which became Motorola Solutions Inc., specializing in radio equipment to emergency workers and scanning devices for retailers. Since then it has been struggling, with value of shares dropping by 20%.

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