Google CEO Larry Page and Lenovo CEO Yang Yuanqing
Update: Motorola and Google have both confirmed the acquisition of Motorola by Lenovo for $2.91 billion. Google will, however, retain the “vast majority” of Motorola’s patents. Google CEO Larry Page says that Motorola will be better unitized and more beneficial to Lenovo. This will also give Google more time to drive “innovation across the Android ecosystem.” The deal still has to pass regulatory approval in China and the U.S., and until then, Google says it is business as usual for the two companies.
According a tweet from Reuters reporter Gerry Shih, Lenovo is nearing completion on a deal to purchase Motorola from Google for around $3 billion. A report from China Daily news corroborates Reuters, but claims the deal is closer to the $2 billion mark. China Daily claims that the deal will be announced to the public Thursday morning in Beijing, which is just a few hours from now. Google is also holding an earnings call tomorrow, so it’s very possible that the information will officially drop during the call.
TechCrunch has “confirmed reports” of the acquisition, saying the terms of the deal have not yet been revealed, but that it was around $3 billion. It’s also important to note that the deal includes Motorola Mobility, which Google paid $12.5 billion for, not the entire Motorola company.