After waiting months for the go-ahead to say so, Google CEO Larry Page today announced that his company now officially owns Motorola Mobility.
Google announced plans to acquire Motorola Mobility for $12.5 billion in August. Upon doing so, the companies had to clear regulatory hurdles to get the deal done. Regulators in both the U.S. and the European Union approved the acquisition back in February, but the companies were forced to wait for China. Over the weekend, China approved the deal, paving the way for Google to close it.
As part of the acquisition, Page announced today that Motorola Mobility chief Sanjay Jha has stepped down from his post. In his place, Google has named “long-time Googler” Dennis Woodside to be the mobile firm’s new chief executive.
“I’ve known Dennis for nearly a decade, and he’s been phenomenal at building teams and delivering on some of Google’s biggest bets,” Page wrote in the blog post. “One of his first jobs at Google was to put on his backpack and build our businesses across the Middle East, Africa, Eastern Europe and Russia. More recently he helped increase our revenue in the U.S. from US$10.8 billion to US$17.5 billion in under three years as President of the Americas region.”
It has been widely believed that the main reason Google acquired Motorola Mobility was for its patents. The search company and its vendor partners are currently waging legal battles around the world with a host of companies over claims that Android violates patents. Motorola Mobility holds thousands of patents and patent applications that could come in handy for any future legal proceedings.
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