Google closes acquisition of Motorola MobilityAlex Wagner - Deputy Managing Editor, News Desk
Last weekend we learned that China had finally given the green light to Google's proposed acquisition of Motorola Mobility and that, as a result, the deal was expected to close this week. That's exactly what has happened, as Google CEO Larry Page took to the company's official blog this morning to declare that its acquisition of Motorola has indeed closed. Page also says that Motorola CEO Sanjay Jha has stepped down from the company. Replacing him as CEO of Motorola Mobility will be Google employee Dennis Woodside.
It was initially announced back in August 2011 that Google would be acquiring Motorola Mobility for a cool $12.5 billion. Fast-forward nine months or so and the deal is now complete, with Motorola getting a new CEO just like was rumored earlier this year. Exactly what happens next is still up in the air, but Google has said that it plans to run Motorola as a separate business and that its purchase of the company will allow it to "supercharge the Android ecosystem." Larry Page's full blog post on the deal's completion can be found at the source link below.