Google just announced that it has sold Motorola in a deal to Lenovo, the Chinese electronics company. The deal it set off at about $2.91 billion for the smartphone company.
And about $1.41 billion due at the deal’s closing, in form of cash and shares, and about $1.5 billion as a three-year promissory note. Also according to the deal, Google will still have most of the patent portfolio of the Mobile manufacturer also including the invention disclosures. While Lenovo will get 2,000 patents along with the Motorola Mobility brand and its trademarks.
After buying Motorola for $12.5 billion in 2012, the search engine giant had raised the worth of the Mobile Manufacturer last year by launching some successful smartphones like the Moto X, and the Moto G. But despite of these successful devices, the company continued to lose money each quarter. Also with this deal, it puts one more American Brand into the hands of Chinese giant, Lenovo, as back in 2005 they had bought ThinkPad division from IBM.