Lenovo has officially completed its purchase of Motorola Mobility from Google, in a deal worth $2.91bn that was first announced in January.
Lenovo confirmed that it will run Motorola as a wholly-owned subsidiary, and that Motorola’s headquarters will remain in Chicago. Some 3,500 employees from Motorola are now part of Lenovo, the bulk of them - 2,800 - based in the US.
Yang Yuanqing, chief executive at Lenovo, said that the move will make Lenovo/Motorola the number three global smartphone vendor, offering more choice to consumers.
“Together we are ready to compete, grow and win in the global smartphone market," he said.
"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."
Lenovo is hoping that Motorola's strong presence and brand in the US and other Western markets, as well as its existing carrier relationships, will help to grow its smartphone business in these markets, where it has not traditionally been very active.
Google chief executive Larry Page said he was pleased to hand the business on to Lenovo. “Motorola is in great hands with Lenovo, a company that’s all-in on making great devices,” he said.
Google also benefits from the sale as it will retain the majority of Motorola's patent portfolio, which Motorola will license from Google. Motorola still has some 2,000 patents at its disposal, though.
The deal comes in the same week that Zebra Technologies completed its acquisition of Motorola Solution's Enterprise Business unit for $3.45bn.
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