Apple’s chief financial officer has reacted to Google’s proposed acquisition of smartphone maker Motorola.
During a conference call hosted by investment firm Gleacher & Company, Peter Oppenheimer, commented on the price Google has agreed to pay to Motorola by saying "$12.5 billion is a lot of money.”
Google recently announced that it will be acquiring Motorola, the company popular smartphones like the Droid, for a total of $12.5 billion, which is a lot more than the company’s market value.
Google CEO Larry Page said in a blog post announcing the deal that one of the driving factors behind the acquisition was that the company wanted to protect its Android eco-system against the ‘anti-competitive’ legal assaults launched by Apple, Microsoft and Oracle.
If the acquisition gets the regulatory approval, Google will be getting more than 7,000 patents that belong to Motorola, enhancing its patent war-chest significantly.
Oppenheimer’s comment as cited by AppleInsider clearly indicates that Apple, along with many others, believes that Google is overpaying for Motorola. Apple has never paid more than $500 million for any acquisition, the highest being $404 million which is paid to acquire NeXT back in 1997.
Commenting on the impending acquisition, Oppenheimer said that Apple believes in market competition but companies should invent their own technology rather than steal it from others.