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Lenovo buys Motorola Mobility division for $2.91billion


Did not see that coming did ya?

Google has confirmed that Lenovo buys Motorola. It has been handed over to Lenovo for the small amount $2.91 billion. Most of the money will be paid in cash, but will also include about $750 million worth of Lenovo’s shares.

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Google will be keeping a vast majority of the company it once called its own, such as patents. Lenovo will be taking ownership of all the intellectual property, including Motorola’s brands and trademarks.

It will be interesting to see which companies Google Products such as Glass will be manufactured by, after rumors of Google using Motorola for all of its hardware needs.

Google also stresses that this buyout will not affect its other hardware endeavors such as smart-watches and connected kitchens, though this does mean Google will be staying out of the Smartphone department for the time being.

Here are the Official Press releases: Google, Motorola, Lenovo