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Google Sells Motorola To Lenovo Net Worth : $2.91 Billion (USD)
Google CEO Larry Page says Google wants to focus on Android and believes Motorola will be “better served” by Lenovo in the “super competitive” smartphone market. Google will continue its investments in other hardware such as wearables and smart home devices.
Motorola Mobility was Google’s largest ever acquisition at $12.5 billion in 2012. Page says the decision was made because of the “super competitive” nature of the smartphone market. “Motorola will be better served by Lenovo—which as a rapidly growing smartphone business and is the largest (and fastest-growing) PC manufacturer in the world,” Page said today. “This move will enable Google to devote our energy to driving innovation across the Android ecosystem, for the benefit of smartphone users everywhere.”
Google spent $3.2 billion to acquire smart thermostat maker Nest and bought several robotics companies last year. Page made a point of noting that Google’s vision for smart devices like the Nest and Google Glass, its Internet-connected eyewear, remains a focus for the company.
Motorola sale doesn’t mean that Google isn’t interested in making hardware to run Android.Google will “retain the vast majority of Motorola’s patents, which we will continue to use to defend the entire Android ecosystem.” The company valued those patents and other developed technology at Motorola at $5.5 billion, according to a regulatory filing last year.
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