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© ra2studio dreamstime.com Electronics Production | October 30, 2014

Done deal: Motorola Mobility belongs to Lenovo

The acquisition of the Motorola brand and Motorola's portfolio of smartphones, as well as the future Motorola product roadmap, positions Lenovo as the world’s third largest maker of smartphones.
Lenovo will operate Motorola as a wholly-owned subsidiary. Motorola’s headquarters will remain in Chicago. With the completion of the acquisition, Lenovo welcomes the addition of a new portfolio company with nearly 3'500 employees around the world – including about 2'800 in the US – who design, engineer, sell and support Motorola’s devices.

“Today we achieved a historic milestone for Lenovo and for Motorola – and together we are ready to compete, grow and win in the global smartphone market. By building a strong number three and a credible challenger to the top two in smartphones, we will give the market something it has needed: choice, competition and a new spark of innovation,” said Yang Yuanqing, chairman and CEO, Lenovo. “This partnership has always been a perfect fit. Lenovo has a clear strategy, great global scale, and proven operational excellence. 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.”

Liu Jun, Lenovo executive vice president and president of Lenovo’s Mobile Business Group, is chairman of the Motorola Management Board. Rick Osterloh, a Motorola veteran, will remain president and chief operating officer of Motorola.

Google will maintain ownership of a majority of the Motorola Mobility patent portfolio, while Motorola will receive a license to this portfolio of patents and other intellectual property.

The total purchase price at close was approximately USD 2.91 billion (subject to certain post-close adjustments).

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