The I’s have been dotted and the ink has dried, and today, Google is now officially the owner of a brand spanking new (well, probably not new) firm, Motorola Mobility. The confirmation of the acquisition came from Google head honcho himself, CEO Larry Page in a blog post. The $12.5 billion purchase of the company was recently OK’d by Chinese regulators, and comes a good 9 months after Google officially announced its intentions. There’s also management changes in store for the company, with Page announcing that Sanjay Jha will be stepping down as the CEO of Motorola Mobility and will be replaced by long-time Google employee, Dennis Woodside.
Page said on the official blog that “Motorola is a great American tech company that has driven the mobile revolution, with a track record of over 80 years of innovation, including the creation of the first cell phone. We all remember Motorola’s StarTAC, which at the time seemed tiny and showed the real potential of these devices. And as a company who made a big, early bet on Android, Motorola has become an incredibly valuable partner to Google.”
He adds It’s a well known fact that people tend to overestimate the impact technology will have in the short term, but underestimate its significance in the longer term. Many users coming online today may never use a desktop machine, and the impact of that transition will be profound—as will the ability to just tap and pay with your phone. That’s why it’s a great time to be in the mobile business, and why I’m confident Dennis and the team at Motorola will be creating the next generation of mobile devices that will improve lives for years to come.”
Source: Google