Lenovo Officially Owns Motorola, Following ~$3 Billion Deal

Lenovo Officially Owns Motorola, Following ~$3 Billion Deal

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Google is now officially no longer the owner of American phone manufacturer Motorola. Earlier today, the $2.91 billion deal finally took place, and now the American company is officially owned by Chinese giant Lenovo. The deal has been confirmed by executives of both parties. This means that Lenovo has full rights to Motorola’s product portfolio and acquires all technologies owned by this OEM.

Motorola’s headquarters are set to remain in Chicago. Lenovo will also keep its newly integrated employees working on their existing projects. It’s likely that we will see new phones featuring different branding, such as what we’ve seen with Microsoft’s Nokia acquisition and Sony Mobile’s split from Sony Ericsson.

Google acquired Motorola Mobility in 2012 for $12.5 billion. It took them three years to turn the OEM into a successful brand, but even with such efforts, the company’s finances were still a bit bleak. Largely as a result, the company decided to sell Motorola to Lenovo in early 2014. Two companies took a few months to negotiate terms and acquire the requisite regulatory approvals, but the needed time has resulted in fruition.

It’s unlikely that we will see Lenovo drop the Motorola name or Moto G and X lines, but it is still possible that we will see branding and perhaps even product type changes in the future.

[via Recode]