Mergers and Acquistions News
Categories: Telecoms
August 16th 2011, 12:15PM
Google has made a $12.5 billion (£7.6 billion) investment in Motorola Mobility, it has been revealed.
An official statement from mobile phone manufacturer Motorola claimed the decision was "unanimously approved" by directors from both enterprises.
The firm will still be a licensee of Android and Google plans to operate Motorola Mobility as a separate company.
Regulatory approval in the US and European Union is required before the transaction can go ahead, although it is thought it will be completed by the end of the year or the beginning of 2012.
It is believed the acquisition will lead to greater competition within the mobile computing market as well as boosting the Android brand.
Furthermore, IDC analyst Francisco Jeronimo told Reuters that the deal will demonstrate "how quickly Google's plans can change their businesses".
Sanjay Jha, chief executive officer of Motorola Mobility, said: "This transaction offers significant value for Motorola Mobility's stockholders and provides compelling new opportunities for our employees, customers and partners around the world."
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