Google is selling Motorola to Lenovo for $2.9 Billion.
Most investors viewed Motorola as an unnecessary drain on Google’s profit, a perspective that was reflected by Wall Street’s reaction to the sale. Google’s stock gained $28.08, or 2.5 percent, to $1,135 in extended trading.
Motorola was once google biggest acquisition , but soon it become a financial headache for it.
Most investors viewed Motorola as an unnecessary drain on Google’s profit, a perspective that was reflected by Wall Street’s reaction to the sale. Google’s stock gained $28.08, or 2.5 percent, to $1,135 in extended trading.
On the other hand Lenovo is gearing up for a major expansion. It is already the world biggest maker of PC and now it is keen to set it's foot in smartphone industry.
Buying Motorola will enable Lenovo to join Apple Inc. as the only major technology companies with global product lines in PCs, smartphones and tablets.
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