Google will own 6% of China's Lenovo once Motorola deal closes

Google logoLenovo anticipates a transfer of more than 618 million shares at a price of $1.21 each, according to a financial disclosure filed Thursday with the Hong Kong Stock Exchange and reported by Reuters. The stake — worth $750 million — is the third leg of the company's purchase agreement alongside $660 million in cash and a $1.5 billion, three-year promissory note.

Google and Lenovo announced the sale last week, less than two years after Google acquired Motorola for $12.5 billion.

Google will own 6% of China's Lenovo once Motorola deal closes

That acquisition was mostly about Motorola's vast intellectual property portfolio rather than its hardware businesses, the latter of which Google has successfully rid itself of. Google sold Motorola's set-top box business soon after the original acquisition, and the Lenovo deal leaves Mountain View, Calif.-based Google with the lion's share of Motorola's patents as well as its secretive Advanced Research and Projects division.

Source: AppleInsider

Tags: Google, Lenovo

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