The American Multinational internet provider, Google will acquire ( 40.00 dollars) 3,720 shillings per share of the Motorola Mobility Holdings Incorporation after the board of directors from the two companies unanimously sealed the acquisition deal.
According to Google Chief Executive Officer,Larry Page, said the acquisition which amounts to 1162.5 billion shillings(12.5 billion dollars),similar to a premium of 63 per cent of the closing price of the dedicated android partner’s shares on Friday 12, August 2011, will boost Android ecosystem and enhance competition in mobile computing.
“Motorola Mobility’s total commitment to Android has created a natural fit for our two companies. Together, we will create amazing user experiences that supercharge the entire Android ecosystem for the benefit of consumers, partners and developers. I look forward to welcoming Motorolans to our family of Googlers.”said Page at a conference.
Reiterating the significance of the partnership Motorola Mobility’s CEO, Sanjay Jha termed the partnership as a productive one that will create a platform for innovation and providing customers with outstanding mobility solutions for all uses.
“We have shared a productive partnership with Google to advance the Android platform, and now through this combination we will be able to do even more to innovate and deliver outstanding mobility solutions across our mobile devices and home businesses.” said Jha.
Meanwhile the Senior Vice President of Mobile at Google, Andy Rubin said that they are expecting the combination to break new grounds for the Android ecosystem adding that the firm is committed to android and will work with partners to develop and distribute innovative products.
“Google remains firmly committed to Android as an open platform and a vibrant open source community. We will continue to work with all of our valued Android partners to develop and distribute innovative Android-powered devices.” said Rubin.
The transaction is subject to customary closing conditions, with the US, the European Union and other jurisdictions including Motorola Mobility’s stockholders will handle regulatory receipt approvals. The transaction is expected to close by the end of 2011 or early 2012.
Since its inception in 1998, Google’s innovative search technologies has connected millions of people worldwide with information and is the top web property in all major global markets.
On the other hand Motorola Mobility, a dedicated Android partner, connects and enriches people’s lives through fusion of innovative technology including converged mobile devices such as smart phones and tablets, wireless accessories, end-to-end video and data delivery, and management solutions, including set-tops and data-access devices.
