Motorola sold for $3 billion! This may sound to many like quite a large sum, but in the broader spectrum of the business world (especially with these big players), this is quite a steal for Lenovo.
In 2011, Google purchased Motorola for an astonishing amount of $12.5 billion. Apparently, for Google this was not the best investment, as they only seemed to lose money off Motorola. So, now they’re dumping that division onto Lenovo. Hopefully, the Chinese company sees better success than Google did.
Google’s end of the deal is to pay an exact sum of $2.91 billion, which includes $750 million worth of Lenovo’s shares. While this is technically Google selling Motorola to Lenovo, they still get to keep all of Motorola’s patents, only giving Lenovo the Moto brand and trademark.
Lenovo still gets quite a bit out of this deal. The ownership of Motorola should boost their company and reputation substantially, making them to proud owners of the largest PC and the third biggest handset manufacturer.