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Lenovo acquisition of Motorola finalised

Mike Gee | Nov. 3, 2014
Lenovo A/NZ, we’re looking forward to expanding existing relationships with our current retail partners JB Hi-Fi and Harvey Norman and enabling new partnerships in the future.

Google will maintain ownership of a majority of the Motorola Mobility patent portfolio, while Motorola will receive a license to this rich portfolio of patents and other intellectual property. Motorola will retain over 2000 patent assets and a large number of patent cross-license agreements, as well as the Motorola Mobility brand and trademark portfolio.

The total purchase price at close was approximately $US2.91 billion (subject to certain post-close adjustments), including approximately $US660 million in cash and 519,107,215 newly issued ordinary shares of Lenovo stock, with an aggregate value of $US750 million, representing about 4.7 per cent of Lenovo's shares outstanding, which were transferred to Google at close. The remaining $US1.5 billion will be paid to Google by Lenovo in the form of a three-year promissory note. A separate cash compensation of approximately $US228 million was paid by Lenovo to Google primarily for the cash and working capital held by Motorola at the time of close.

 

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