Google acquires Motorola mobile division for $12.5 billion
The Internet company Google is expanding massively into the cell phone business. The world's largest search engine provider is buying Motorola Mobility for 12.5 billion dollars, as the U.S. company announced surprisingly on Monday.
A cash payment of $40 per share would be made. The business of U.S. cell phone manufacturer Motorola Mobility will continue to operate separately. The takeover is expected to be completed by the end of the year or early 2012. The purchase price represents a 63 percent premium to Motorola Mobility's closing price on Friday. Shares listed in New York surged 59 percent in premarket trading. Google shares slipped 2.8 percent. (SDA)
