10/30/2014 11:17:56 AM
Motorola Mobility to operate as Lenovo subsidiary
Lenovo has announced it has completed the deal to buy Motorola Mobility from Google.
The acquisition will see Motorola operate as a wholly-owned subsidiary of Lenovo, in a move that Lenovo says positions it as a the third largest maker of smartphones in the world.
Explaining the deal in a blog post Motorola Mobility's president Rick Osterloh said: 'We will be a wholly owned subsidiary of Lenovo and remain headquartered in Chicago’s Merchandise Mart while maintaining offices around the world, including in Silicon Valley. The iconic Motorola brand will continue, as will the Moto and DROID franchises that have propelled our growth over the past year. We will continue to focus on pure Android and fast upgrades, and remain committed to developing technology to solve real consumer problems. And we will continue to develop mobile devices that bring people unprecedented choice, value and quality.
'Motorola is a company that has long helped to define the course of the mobile telecommunications and mobile computing industries. With Lenovo backing us, we look forward to being able to reshape the industry for decades to come. We’re ready for the challenge and hope you’ll join us on the journey.'
Google bought for £7.6bn Motorola back in 2011 which seemed to herald the arrival of the web-giant into the mobile domain. However, the brand failed to make the impact that some tipped it to with Google's backing to and it was little surprise in January of this year when Lenovo announced they had agreed a £1.76bn deal to buy the manufacturer.