Introducing ITProPortal Channels...
Professional
Keep up to date with all the top stories in the professional IT landscape, whether it’s Cloud, Security or Networking, ITProPortal has it covered.
Consumer
If you’re looking for news on the latest consumer electronics trends and tech, or reviews of the latest gadgets & hardware, it’s right here.
Feedback

Google-Motorola Deal Approved By Chinese Authorities

by Radu Tyrsina, 21 May, 2012 News

Earlier this year, Google's decision to merge with Motorola was approved by the European Commission and the US Department of Justice. Now, the Chinese authorities have approved Google's $12.5 billion (£7.9 billion) purchase of Motorola Mobility.

The Chinese legislation requires that every company selling products or services worth more than $63 million on the local market, or $1.5 billion worldwide, should be granted approval from the Chinese Ministry of Commerce.

Motorola Mobility confirmed the good news for Bloomberg's reporters. "We are pleased the deal has received approval in all jurisdictions," said the company representatives.

"We expect to close imminently," they added. Google's officials said the deal "has not changed" and they are looking forward to complete the acquisition.

Analysts pointed out that Google is only interested in Motorola for its huge patent wealth that will prop up the Android platform. Larry Page, Google co-founder and CEO, confirmed that his company needs Motorola in order to "better protect Android from anti-competitive threats from Microsoft, Apple and other companies.".

He also stated that Google intends to further invest in Motorola after the acquisition is complete and isn't planning to sell it. 

Source: Bloomberg

blog comments powered by Disqus