(Ping! Zine Web Tech Magazine) – Lenovo’s $2.91 billion acquisition of Motorola from Google has officially been closed today, adding another 3,500 employees to the company.
“Lenovo has a clear strategy, great global scale, and proven operational excellence,” said Lenovo chairman and CEO Yang Yuanqing. “Motorola brings a strong presence in the U.S. and other mature markets, great carrier relationships, an iconic brand, a strong IP portfolio and an incredibly talented team. This is a winning combination.”
According to USA Today, the deal gives Lenovo all of Motoroloa’s smartphones, including the Moto X, G, and E.
Lenovo will pay $660 million in cash, 519 million Lenovo shares, and a $1.5 billion promissory note.