Lenovo completes acquisition of Motorola from Google

Lenovo has announced today that it has completed the acquisition of Motorola from Google. This move has been long on the cards and has cost the Chinese company a cool $ 2.91 billion and was first announced in late January. Despite the acquisition, Motorola's headquarters remains in Chicago and its brand remains intact just now being referred to as 'a Lenovo company'.

Lenovo will operate its new acquisition as a wholly-owned subsidiary. Lenovo now owns the Motorola brand and the company portfolio, including current products like the Moto X (2014) , Moto G (2014) and Moto 360.

"Today we achieved a historic milestone for Lenovo and for Motorola – and together we are ready to compete, grow and win in the global smartphone market. 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," Yang YuanQing, chairman and CEO of Lenovo said. 

Motorola has approximately 3,500 employees globally, with 2,800 of them being based in the US. As for the company's patents, Google would still remain ownership of the patents with Motorola being granted a license to use them. However, 2000 of these patents still remain under Motorola's ownership.

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