Chinese company Lenovo will buy the phone manufacturer Motorola from Google for 2.91 billion dollars. Lenovo will pay Google 660 million dollars in the transaction and still 750 million in securities. The remaining $ 1.5 billion will be paid over three years. Most patents belonging to Motorola, however, remain property of Google.
"The purchase of Motorola Mobility gives our company the opportunity to develop our mobile business ," said a statement from the head of Lenovo Yang Yuanqing posted on the company's website.
Google bought Motorola Mobility in 2012 for 12.5 billion dollars, as the main target of the IT giant were the patents in the portfolio of the phone manufacturer. At the end of the same year Google sold for 2.5 billion the division of Motorola, engaged in the production of TV hookups. Founded in 1929, Motorola released in 1983 the first commercial mobile phone. In the 90's the company has been a leader among mobile phone manufacturers, but gradually retreated positions.
Following the announcement of the deal between Google and Lenovo shares of the Chinese company fell by 8.21% on the stock exchange in Hong Kong.
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