Lenovo buys Motorola Mobility for $ 2.91 billion

SAO PAULO-the Chinese manufacturer Lenovo electronics reached a definitive agreement to buy the Motorola Mobility, Google's Smartphone business, for $ 2.91 billion. With the agreement, Lenovo strengthens its global operation in the area of smartphones, especially in the regions of North America and Latin America.
The value of purchase was set at $ 2.91 billion, including $ 1.41 billion paid at closing of the transaction. Another $ 660 million will be in cash and $ 750 million in the form of common shares of Lenovo. The remainder will be paid in promissory notes with maturity of three years.
Under the agreement, Google will maintain ownership of most of the patents from Motorola Mobility, including current patent applications and inventions released.
Lenovo will receive a license for the use of those patents and other intellectual property rights. In addition, Lenovo will receive more than 2 thousand patent assets, as well as the right to use the brand name Motorola Mobility.
Operation is subject to the approval of regulatory agencies.