As per the latest update, the search giant Google(NASDAQ:GOOG) is selling Motorola's smartphone business to Lenovo, which it had acquired in 2012 for $12.4 billion. If reports are to be believed, this time the deal will close for $2.9 billion.
However, Google is not selling most of the patents that came with the Motorola purchase.Earlier, Google had recovered some of the money that it had invested in Motorola Mobility’s acquisition selling the company's set-top operations to Arris Group Inc. for $2.35 billion last year.
A spokesperson from Lenovo said that the Company is not planning to lay off any more Motorola employees and that the subsidiary would remain based in its current headquarters in Libertyville, Illinois.
Market reviewers added that Motorola’s acquisition will further help Lenovo to make its position strong in PCs, smartphones and tablets market as Lenovo will become a one-stop shop for customers to buy all their devices.
Here it is worth mentioning that Lenovo has also announced its plans to acquire a major piece of IBM Corp.'s computer server business for $2.3 billion last week.
