Google buying Motorola Mobility
Larry Web page had this to say concerning the deal:
Replace: Extra quotes from Android companions after the break.
Peter Chou, CEO, HTC:
We welcome the information of in the present day’s acquisition, which demonstrates that Google is deeply dedicated to defending Android, its companions, and the whole ecosystem.
Bert Nordberg, President & CEO, Sony Ericsson:
I welcome Google’s dedication to defending Android and its companions.
Jong-Seok Park, President & CEO, LG:
We welcome Google’s dedication to defending Android and its companions.
J.Okay. Shin, President, Samsung, Cellular Communications Division:
We welcome right now’s information, which demonstrates Google’s deep dedication to defending Android, its companions, and the ecosystem.
Mixture will Supercharge Android, Improve Competitors, and Supply Fantastic Consumer Experiences
MOUNTAIN VIEW, Calif. & LIBERTYVILLE, Unwell.–(BUSINESS WIRE)–Google Inc. (NASDAQ: GOOG) and Motorola Mobility Holdings, Inc. (NYSE: MMI) in the present day introduced that they’ve entered right into a definitive settlement beneath which Google will purchase Motorola Mobility for $forty.00 per share in money, or a complete of about $12.5 billion, a premium of sixty three% to the closing worth of Motorola Mobility shares on Friday, August 12, 2011. The transaction was unanimously permitted by the boards of administrators of each corporations.
“Motorola Mobility’s complete dedication to Android has created a pure match for our two corporations. Collectively, we’ll create superb consumer experiences that supercharge the whole Android ecosystem for the good thing about shoppers, companions and builders. I look ahead to welcoming Motorolans to our household of Googlers.” The acquisition of Motorola Mobility, a devoted Android companion, will allow Google to supercharge the Android ecosystem and can improve competitors in cellular computing. Motorola Mobility will stay a licensee of Android and Android will stay open. Google will run Motorola Mobility as a separate enterprise.
Larry Web page, CEO of Google, stated, “Motorola Mobility’s complete dedication to Android has created a pure match for our two corporations. Collectively, we’ll create superb consumer experiences that supercharge all the Android ecosystem for the good thing about shoppers, companions and builders. I look ahead to welcoming Motorolans to our household of Googlers.”
Sanjay Jha, CEO of Motorola Mobility, stated, “This transaction presents vital worth for Motorola Mobility’s stockholders and supplies compelling new alternatives for our staff, clients, and companions all over the world. We have now shared a productive partnership with Google to advance the Android platform, and now via this mix we will do much more to innovate and ship excellent mobility options throughout our cellular units and residential companies.”
Andy Rubin, Senior Vice President of Cellular at Google, stated, “We anticipate that this mix will allow us to interrupt new floor for the Android ecosystem. Nevertheless, our imaginative and prescient for Android is unchanged and Google stays firmly dedicated to Android as an open platform and a vibrant open supply group. We’ll proceed to work with all of our valued Android companions to develop and distribute progressive Android-powered units.”
The transaction is topic to customary closing circumstances, together with the receipt of regulatory approvals within the US, the European Union and different jurisdictions, and the approval of Motorola Mobility’s stockholders. The transaction is predicted to shut by the top of 2011 or early 2012.
Google and Motorola Mobility will maintain a convention name with monetary analysts to debate this announcement at the moment at eight:30am ET. The toll-free dial-in quantity for the decision is 877-616-4476 (convention ID: 92149124). The decision may even be webcast stay at http://investor.shareholder.com/media/eventdetail.cfm?eventid=101369&CompanyID=ABEA-3VZHGF&e=1&mediaKey=A21887C59EBAAC12F1BCF4D43C080953. The webcast model of the convention name might be obtainable by way of the identical hyperlink following the convention name.
About Google Inc.
Google’s revolutionary search applied sciences join hundreds of thousands of individuals all over the world with info day-after-day. Based in 1998 by Stanford Ph.D. college students Larry Web page and Sergey Brin, Google right now is a prime net property in all main international markets. Google’s focused promoting program supplies companies of all sizes with measurable outcomes, whereas enhancing the general net expertise for customers. Google is headquartered in Silicon Valley with workplaces all through the Americas, Europe and Asia. For extra info, go to www.google.com.
About Motorola Mobility
Motorola Mobility Holdings, Inc. fuses revolutionary know-how with human insights to create experiences that simplify, join and enrich individuals’s lives. Our portfolio consists of converged cellular units similar to smartphones and tablets; wi-fi equipment; finish-to-finish video and knowledge supply; and administration options, together with set-tops and knowledge-entry units. For extra info, go to motorola.com/mobility.
This press launch consists of ahead-wanting statements inside the which means of Part 27A of the Securities Act of 1933 and Part 21E of the Securities Trade Act of 1934. These ahead-wanting statements usually may be recognized by phrases similar to Google, Motorola or administration of both firm “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or different phrases or phrases of comparable import. Equally, statements herein that describe the proposed transaction, together with its monetary impression, and different statements of administration’s beliefs, intentions or objectives are also ahead-wanting statements. It’s unsure whether or not any of the occasions anticipated by the ahead-wanting statements will transpire or happen, or if any of them do, what influence they may have on the outcomes of operations and monetary situation of the mixed corporations or the worth of Google or Motorola inventory. These ahead-wanting statements contain sure dangers and uncertainties that would trigger precise outcomes to vary materially from these indicated in such ahead-wanting statements, together with however not restricted to the power of the events to consummate the proposed transaction and the satisfaction of the circumstances precedent to consummation of the proposed transaction, together with the power to safe regulatory approvals in any respect or in a well timed method; the power of Google to efficiently combine Motorola’s operations, product strains and know-how; the power of Google to implement its plans, forecasts and different expectations with respect to Motorola’s enterprise after the completion of the transaction and understand further alternatives for progress and innovation; and the opposite dangers and necessary elements contained and recognized in Google’s and Motorola’s filings with the Securities and Change Fee (the “SEC”), resembling their respective Quarterly Stories on Type 10-Q and Annual Stories on Type 10-Okay, any of which might trigger precise outcomes to vary materially from the ahead-wanting statements. The ahead-wanting statements included on this press launch are made solely as of the date hereof. Neither Google nor Motorola undertakes any obligation to replace the ahead-wanting statements to mirror subsequent occasions or circumstances.
Further Info and The place to Discover It
Motorola intends to file with the SEC a proxy assertion in reference to the proposed transaction with Google. The definitive proxy assertion might be despatched or given to the stockholders of Motorola and can include necessary details about the proposed transaction and associated issues. SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT CAREFULLY WHEN IT BECOMES AVAILABLE. The proxy assertion and different related supplies (once they turn into out there), and some other paperwork filed by Motorola with the SEC, could also be obtained freed from cost on the SEC’s web site, at www.sec.gov. As well as, safety holders will be capable of get hold of free copies of the proxy assertion from Motorola by contacting Investor Relations by mail at Attn: Investor Relations, 600 North U.S. Freeway forty five, Libertyville, IL 60048.
Individuals within the Solicitation
Motorola and its administrators and government officers could also be deemed to be individuals within the solicitation of proxies from Motorola stockholders in reference to the proposed transaction. Details about Motorola’s administrators and government officers is about forth in its proxy assertion for its 2011 Annual Assembly of Stockholders, which was filed with the SEC on March 15, 2011, and its Annual Report on Type 10-Okay for the yr ended December 31, 2010, filed on February 18, 2011. These paperwork can be found freed from cost on the SEC’s web site at www.sec.gov, and by mail at Consideration: Investor Relations, 600 North U.S. Freeway forty five, Libertyville, IL 60048, or by going to Motorola’s Investor Relations web page on its company web site at http://buyers.motorola.com. Further info relating to the pursuits of members within the solicitation of proxies in reference to the transaction might be included within the proxy assertion that Motorola intends to file with the SEC.
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Supply: The Official Google Weblog
Supply: The Official Google Weblog