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Lenovo Group Ltd to acquire Motorola Mobility from Google Inc


Tuesday, 28 Jan 2014 07:00pm EST 

Lenovo Group Ltd and Google Inc:Enters into a definitive agreement under which Lenovo plans to acquire the Motorola Mobility smartphone business.Says the purchase price is about $2.91 billion (subject to certain adjustments), including $1.41 billion paid at close, comprised of $660 million in cash and $750 million in Lenovo ordinary shares (subject to a share cap/floor).Says the remaining $1.5 billion will be paid in the form of a three-year promissory note.Says Google will maintain ownership of the vast majority of the Motorola Mobility patent portfolio, including current patent applications and invention disclosures.Says as part of its ongoing relationship with Google, Lenovo will receive a license to this rich portfolio of patents and other intellectual property.Says additionally Lenovo will receive over 2,000 patent assets, as well as the Motorola Mobility brand and trademark portfolio. 

Company Quote

539.32
-1.76 -0.33%
1:22pm EST