- Jan 7, 2002
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Google Inc. (GOOG), maker of the Android mobile-phone software, agreed to buy smartphone maker Motorola Mobility Holdings Inc. for $12.5 billion in its biggest deal, gaining mobile patents and expanding in the hardware business.
Motorola shareholders will get $40 a share in cash, the companies said in a statement today. Thats 63 percent more than Motorola Mobilitys closing price on the New York Stock Exchange on Aug. 12. Both boards have approved the takeover.
Larry Page, Googles co-founder who took over as chief executive officer in April, is transforming Google into a smartphone maker to take on Apple Inc. (AAPL)s iPhone and gain more clout in the wireless business. Motorola Mobility, under pressure to seek strategic changes by activist investor Carl Icahn, gives Google more than 17,000 patents the company can leverage in negotiations with competitors such as Apple.
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Motorola shareholders will get $40 a share in cash, the companies said in a statement today. Thats 63 percent more than Motorola Mobilitys closing price on the New York Stock Exchange on Aug. 12. Both boards have approved the takeover.
Larry Page, Googles co-founder who took over as chief executive officer in April, is transforming Google into a smartphone maker to take on Apple Inc. (AAPL)s iPhone and gain more clout in the wireless business. Motorola Mobility, under pressure to seek strategic changes by activist investor Carl Icahn, gives Google more than 17,000 patents the company can leverage in negotiations with competitors such as Apple.
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