Connect with us

Hi, what are you looking for?

News

Lenovo Buys Motorola Mobility for $3 Billion

Motorola - a lenovo company

On October 30, 2014 Lenovo became the #3 smartphone maker, after completing its $2.91 billion acquisition of Motorola Mobility from Google. The purchase includes Motorola’s brand and portfolio of innovative smartphones like Moto X, Moto G, Moto E, the DROID series, as well as the Moto 360 smartwatch, and the future Motorola product roadmap.

In a rather complex deal, Google will maintain ownership of a majority of the Motorola Mobility patent portfolio, while Motorola will receive a license to this rich portfolio of patents and other intellectual property. Motorola will retain over 2,000 patent assets and a large number of patent cross-license agreements, as well as the Motorola Mobility brand and trademark portfolio.

Lenovo will operate Motorola as a wholly-owned subsidiary. Motorola’s headquarters will remain in Chicago. With the completion of the acquisition, Lenovo welcomes the addition of a new portfolio company with nearly 3,500 employees around the world – including about 2,800 in the U.S. – who design, engineer, sell and support Motorola’s outstanding devices.

The total purchase price at close was approximately US$2.91 billion (subject to certain post-close adjustments), including approximately US$660 million in cash and 519,107,215 newly issued ordinary shares of Lenovo stock, with an aggregate value of US$750 million, representing about 4.7 percent of Lenovo’s shares outstanding, which were transferred to Google at close. The remaining US$1.5 billion will be paid to Google by Lenovo in the form of a three-year promissory note. A separate cash compensation of approximately US$228 million was paid by Lenovo to Google primarily for the cash and working capital held by Motorola at the time of close.

*DROID is a trademark of Lucasfilm Ltd. and its related companies. Used under license.

Advertisement. Scroll to continue reading.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

New Products

Schiit Audio Vali 3 Tube Headphone Amp

Headphone Amps

With 100V on the plate, Schitt claims its Vali 3 tube headphone amp and preamp beats everything they've tested up to $2,799, for only...

Stratton Acoustics Element 12 Loudspeaker Finishes Stratton Acoustics Element 12 Loudspeaker Finishes

Floorstanding Speakers

For $42,000/pair, the Stratton Acoustics Element 12 offer a reference level stand-mount loudspeaker that's hand-made in the UK.

Bowers & Wilkins 702 S3 Signature Loudspeakers in Midnight Blue Metallic Closeup Bowers & Wilkins 702 S3 Signature Loudspeakers in Midnight Blue Metallic Closeup

Floorstanding Speakers

Trickle-down technology from Bowers & Wilkins' flagship 800 Series arrives in select 700 Series loudspeakers with gorgeous new finishes.

Cambridge Audio Melomania M100 Wireless Earbuds with Charging Case Cambridge Audio Melomania M100 Wireless Earbuds with Charging Case

Earbuds & In-Ear Headphones

At $219, the Cambridge Audio Melomania M100 true wireless earbuds support Bluetooth 5.3 with LE Audio and up 16 hours per charge.

SVS Ultra Evolution Pinnacle Loudspeakers SVS Ultra Evolution Pinnacle Loudspeakers

Floorstanding Speakers

From $899 to $4,999/pair, the new top-of-the-line SVS Ultra Evolution loudspeakers raise the bar for affordable home theater performance.

Atlantic Technology 8600i Series Loudspeakers Lifestyle White Atlantic Technology 8600i Series Loudspeakers Lifestyle White

Floorstanding Speakers

The top-of-the-line Atlantic Technology 8600i Series includes a new tower and center channel speaker for home theater or stereo listening.

You May Also Like

Advertisement

ecoustics is a hi-fi and music magazine offering product reviews, podcasts, news and advice for aspiring audiophiles, home theater enthusiasts and headphone hipsters. Read more

Copyright © 1999-2024 ecoustics | Disclaimer: We may earn a commission when you buy through links on our site.



SVS Bluesound PSB Speakers NAD Cambridge Audio Q Acoustics Denon Marantz Focal Naim Audio RSL Speakers