Google sells Motorola to Chinese tech firm Lenovo for $2.91 billion

[unhappycamper]

http://www.rawstory.com/rs/2014/01/29/google-sells-motorola-to-chinese-tech-firm-lenovo-for-2-91-billion/

Google sells Motorola to Chinese tech firm Lenovo for $2.91 billion
By Agence France-Presse
Wednesday, January 29, 2014 22:45 EST

Google agreed to sell Motorola to Chinese tech giant Lenovo for $2.91 billion, after a lackluster two-year effort to turn around the smartphone maker it bought for $12.5 billion.

The deal ends Google’s run as a handset maker after it biggest-ever takeover, which was announced in 2011 and finalized in 2012.

It also provides Lenovo footholds in smartphone and tablet markets where it is eager to gain traction while acting as a peace offering to Samsung and other partners that make devices powered by Google-backed Android software.

“It is win-win,” analyst Tim Bajarin of Creative Strategies in Silicon Valley said on Wednesday. “Google keeps the patents and the research group, and they keep partners off their back, while Lenovo gets what they need to get into the US smartphone market.”

[exboyfil]

1. Turning $12B into $3B

Impressive investment. What financial genius came up with that one. I am sure Motorola's former stockholders are pleased.

After reviewing further it does not look that bad. They already acquired a bunch of cash prior to selling to Lenova, and they do keep the patents.

http://finance.yahoo.com/blogs/the-exchange/google-selling-motorola-phone-business-but-keeping-some-patents-214150173.html