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Google sells Motorola phone business to Lenovo

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Staff writer ▼ | January 30, 2014
Lenovo and Google have entered into a definitive agreement under which Lenovo plans to acquire the Motorola Mobility smartphone business.
Motorola
MotorolaLenovo and Google have entered into a definitive agreement under which Lenovo plans to acquire the Motorola Mobility smartphone business.


The purchase price is approximately $2.91 billion (subject to certain adjustments), including $1.41 billion paid at close, comprised of $660 million in cash and $750 million in Lenovo ordinary shares (subject to a share cap/floor). The remaining $1.5 billion will be paid in the form of a three-year promissory note.

In addition to current products, Lenovo will take ownership of the future Motorola Mobility product roadmap.

Google will maintain ownership of the vast majority of the Motorola Mobility patent portfolio, including current patent applications and invention disclosures. As part of its ongoing relationship with Google, Lenovo will receive a license to this rich portfolio of patents and other intellectual property.

Additionally Lenovo will receive more than 2,000 patent assets, as well as the Motorola Mobility brand and trademark portfolio.


 

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