MOUNTAIN VIEW, CA and LIBERTYVILLE, IL at AUGUST 15, 2011, Google Inc. (NASDAQ: GOOG) together with Motorola Mobility Holdings, Inc. (NYSE: MMI) at the moment stated that they’ve signed a conclusive arrangement under which Google definitely will purchase Motorola Mobility for $40.00 for each share in cash, or simply a full of approximately $12.5 billion, a premium from 63% for the closing price of Motorola Mobility shares on Friday, August 12, 2011. The deal was initially all approved by the boards of company directors of both the companies.
The acquisition of Motorola Mobility, an obsessive Android operating system partner, will probably enable Google to help to increase the Android mobile phone environment and often will enhance competition in mobile computing. Motorola Mobility will always be a licensee of Android and Android will continue open. Google will manage Motorola Mobility like a individual company.
Larry Page, CEO of Google, said, “Motorola Mobility’s 100 % persistence to Android operating system has generated a perfect suit for our two businesses. At the same time, we are going to produce impressive user experiences which will supercharge the whole Android ecosystem for the benefit to consumers, partners as well as programmers. I look forward to welcoming Motorolans to our family of Googlers”
Sanjay Jha, CEO of Motorola Mobility, announced, “This deal provides substantive advantage for Motorola Mobility’s shareholders and give persuasive new chances for the workers, customers, as well as partners around the world. We’ve provided an effective partnership together with Google to succeed the Android operating system platform, and after this throughout this mixture we are able to do a lot more to innovate and supply wonderful mobility solutions around our mobile devices and home-based businesses.”
Andy Rubin, Senior V . P . of Mobile at Google, says, “We expect which the collaboration will help us to kick brand new ground in the Android operating system environment. And yet, our vision for Android os is unaffected and Google stays firmly involved with Google android for an open platform and a vibrant open source community. We intend to continue to do business with all of our valued Android partners to build up and deliver powerful Android-powered equipment.”
The exchange is subject to customary closing circumstances, such as receipt of regulatory approvals in the states, european union together with other jurisdictions, as well as authorization of Motorola Mobility’s stockholders. The exchange is expected to shut at the end of 2011 or early 2012.
