Google Inc had bought phone hardware manufacturer Motorola Mobility Holdings Inc for $12.5 billion to bolster adoption of its Android mobile software and compete with smartphone rival Apple Inc, deal was made in New York City.
In its biggest deal to date, Google said it would pay $40 per share in cash, a 63 percent premium to Motorola Mobility's Friday closing price on the New York Stock Exchange.
Google, maker of the Android mobile phone operating system software, has been forging ahead in the smartphone market but has been hampered by a lack of intellectual property in wireless telephony.
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| Google has signed a deal to buy Motorola Mobility for $12.5 billion. |
In its biggest deal to date, Google said it would pay $40 per share in cash, a 63 percent premium to Motorola Mobility's Friday closing price on the New York Stock Exchange.
Google, maker of the Android mobile phone operating system software, has been forging ahead in the smartphone market but has been hampered by a lack of intellectual property in wireless telephony.
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