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Google to buy Motorola's handset biz for $12.5b

08-16-2011 09:52 BJT

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Google has announced it will buy Motorola's handset business for 12.5 billion U.S. dollars.

The pair have entered into a definitive agreement, under which Google will acquire Motorola Mobility for 40 U.S. dollars per share in cash, a premium of 63 percent over the closing price of Motorola Mobility shares last Friday.

The transaction has been unanimously approved by the boards of directors of both companies.

The announcement says Motorola Mobility will remain a licensee of Android, and Android will remain in operation. It will run Motorola Mobility as a separate business.

Editor:Li Wanran |Source: CNTV.CN

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