Motorola has now joined the Lenovo family of companies, following the completion of an acquisition by the company priced at 2.91 Billion Dollars from Motorola’s previous owners, Google.
Lenovo, earlier in January this year, announced that it had entered into an agreement with Google that would see Lenovo acquire the Motorola Mobility smartphone business as part of its plans to make the company more profitable.
In the buy-out, Google will maintain ownership of the vast majority of the Motorola Mobility patent portfolio and invention disclosures, with Lenovo receiving a license to the portfolio of patents as well as other intellectual property.
Motorola will however continue to operate as a wholly owned subsidiary of Lenovo and will retain the Motorola brand and trademark portfolio, as well as the Moto and DROID franchises that supported its growth.
“Together we will go farther, faster. With an impressive portfolio of smartphones, wearables and PCs, our two companies will be uniquely positioned to push the boundaries of choice and bring exiting new experiences to people everywhere,” said Motorola.
Lenovo said the acquisition of the mobile handset company is part of efforts by the company to become a global leader across the spectrum of connected devices.
“By leveraging Motorola Mobility’s iconic brand and innovative product portfolio, in combination with Lenovo’s proven global scale, the acquisition will offer customers in more markets a wider choice of innovative mobile devices with compelling prices and value,” said Lenovo in a post.
With the new backing from Lenovo, manufacturing of the mobile devices by Motorola will be moved to China from the former plant in the US.
Lenovo has been reported among the top PC manufacturers in the world, with a growing presence in more countries and emerging markets such as Kenya, which is one of Africa’s key growth markets for the company.
