Google announced today that is has acquired Motorola Mobility for $40 per share in cash (about $12.5 billion). Motorola CEO Sanjay Jha will step down as Motorola Mobility CEO and will be replaced by Dennis Woodside, former President of Google’s Americas region. Google will run Motorola Mobility as a separate company.
The now-acquired company will continue to focus on Android and mobile devices. Google CEO Larry Page writes, “It’s a great time to be in the mobile business, and I’m confident that the team at Motorola will be creating the next generation of mobile devices that will improve lives for years to come.” We will have to wait and see if this optimism pans out.
[Via MarketWatch]