Lenovo's acquisition of Motorola is now complete. Motorola Mobility was acquired by Lenovo back in February for $2.91 Billion from Google and now finally Motorola is "a Lenovo company." But the company will remain as a subsidiary to Lenovo, headquartered in Chicago.
Google's plans to sell Motorola were met with shock since the search giant had paid $12.5 Billion back in 2012. But Google had said that it was more interested in Motorola's patent portfolio than the handset business. Motorola Mobility has been loosing millions of dollars from its handset business, even though its current and previous-gen Moto devices have received both critical as well as consumer goodwill.
But things are about to change with Lenovo, as they are the only manufacturer in the world who have the resources to let Motorola do their thing. Rick Osterloh, President of Motorola, rightly points out what the company aims to do:
We will continue to focus on pure Android and fast upgrades, and remain committed to developing technology to solve real consumer problems.
