Official: Lenovo buys Motorola from Google for $2.91 billion
According to sources from Reuters and China Daily, Google is preparing to sell off Motorola’s phone business to none other than Lenovo. A deal that is reported to be worth $3 billion, this would give Lenovo a much better chance at breaking into the lucrative mobile market in the US, an area Lenovo simply can’t compete.
If it sounds like Lenovo could be getting themselves a deal, it’s because they are. Feels like it was only yesterday Google bought Motorola for $12.5 billion and even though it appears they’ve done a good job at turning things around for the struggling manufacturer, business is business.
UPDATE: Annnnnnnd… it’s official. Motorola CEO Dennis Woodside revealed the news via the company blog, saying with Lenovo now at the helm, Motorola will now be in a better position to attack the global smartphone market. As for Google, they were able to keep the vast majority of patents they acquired from Motorola, with Lenovo also receiving a good 2,000 patents in addition to the Motorola brand and trademarks for a cool $2.91 billion. Everyone wins?