Google made headway on its $12.5 billion Motorola Mobility acquisition late last week when China finally gave the pending merger an O.K., and today the soon-acquired company filed an 8-K form with the U.S. Securities and Exchange Commission that specified the deal’s transaction will close either May 22 or May 23.
According to TechCrunch:
So what happens next? A ‘listening tour,’ a source tells us, with new management visiting the whole of the operation, ‘seeing what everyone does, then making decisions.’ One decision that may be close at hand has to do with headcount: we have heard that there will be layoffs coming imminently — with one person close to the situation even putting the number as high as 30 percent of Motorola’s staff, worldwide. At the same time, more details are emerging about the conditions that China put on the deal: they include a guarantee that Android would remain free and open source for the next five years.