MOUNTAIN VIEW, CA and LIBERTYVILLE, IL at AUGUST 15, 2011, Google Inc. (NASDAQ: GOOG) along with Motorola Mobility Holdings, Inc. (NYSE: MMI) currently reported they've signed a most revered arrangement under which Google would buy Motorola Mobility for $40.00 each share in cash, or an overall close to $12.5 billion, a premium with 63% with the closing price of Motorola Mobility shares from Friday, August 12, 2011. The transaction was unanimously authorized by the boards of company directors of both of companies.
Purchasing of Motorola Mobility, a devoted Android operating system partner, will enable Google to help to increase the Android os environment all of which will improve competition in mobile computing. Motorola Mobility will always be a licensee of Android operating system and Android will stay open. Google is going to run Motorola Mobility as an individual organization.
Larry Page, CEO of Google, said, "Motorola Mobility's total amount dedication to Android has generated a perfect fit for the two organizations. To each other, we are going to make amazing customer experiences which supercharge entire Android environment to the advantage of customers, partners along with developers. I will enjoy welcoming Motorolans to our group of Googlers"
Sanjay Jha, CEO of Motorola Mobility, announced, "This deal provides vital benefits for Motorola Mobility's shareholders and give persuasive new chances for the workers, consumers, and also partners around the world. We have revealed a productive collaboration with Google to advance the Google android platform, now by using this combination we'll be able to perform much more to innovate and provide superior mobility solutions on our cellular devices and home based businesses."
Andy Rubin, Senior V . P . of Mobile at Google, stated, "We be expecting which the collaboration will help us to kick unique ground with the Android operating system ecosystem. Of course, our vision for Android is unrevised and Google continues to be firmly devoted to Android os for an open platform as well as a vibrant open source group. We intend to will begin to work together with each of our valued Android partners to create and deliver useful Android-powered equipment."
The exchange is subject to standard closing circumstances, such as receipt of regulatory approvals the united states, european union and other jurisdictions, as well as authorization of Motorola Mobility's stockholders. The exchange is predicted to shut towards the end of 2011 or early 2012.
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