Google is selling its Motorola Mobility division to Lenovo for $2-3 billion, according to a report from China Daily. Google acquired the company and its then 17,000-strong patent portfolio, along with 7,500 filed patents, in August of 2011 for roughly $12.5 billion.
Google's Motorola Mobility subsidiary has been a money loser for the company in recent quarters, costing the firm $248 million in the most recent quarter. Earlier this month, Google purchased the Tony Fadell-founded Nest for $3.2 billion in cash.
At the time, Google said Motorola was a "natural fit" for the two companies and that it would "supercharge the entire Android ecosystem". It's likely that Google will retain a license to the Motorola patent portfolio, though the deal assigns the rights to more than 10,000 of the patents to Lenovo.
Lenovo Group Ltd is likely to buy Google Inc’s Motorola Mobility business, giving the Chinese company a bigger say in the global tablet and smartphone market.
The acquisition, worth at least $2 billion, will include more than 10,000 mobile communications patents currently held by the United States company, according to a person familiar with the matter.
The deal is expected to be announced on Thursday morning in Beijing.
Google's Motorola Mobility subsidiary has been a money loser for the company in recent quarters, costing the firm $248 million in the most recent quarter. Earlier this month, Google purchased the Tony Fadell-founded Nest for $3.2 billion in cash.
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