Google won approval from Chinese regulators for its $12.5bn (£7.9bn) purchase of Motorola Mobility, clearing a final hurdle for a deal that boosts its patents portfolio and steps up competition with Apple.
“We are pleased the deal has received approval in all jurisdictions,” Motorola Mobility said yesterday, confirming that the transaction has been approved in China.
“We expect to close imminently.” The deal helps Larry Page, the Google co-founder who took over as chief executive officer last year, push the web company to better compete with Apple’s iPhone and gain more clout for its Android software as it expands in the hardware business.
It also gives Google, the worlds’ biggest maker of smartphone software, a trove of 17,000 patents to protect Android devices in legal disputes with competitors.
The acquisition, announced last year, had already received approvals in Europe, the US and other jurisdictions worldwide.Motorola
Mobility had said in a regulatory filing in February that only Chinese clearance was still required. “Our stance since we agreed to acquire Motorola has not changed and we look forward to closing the deal,” Google said.
The company also confirmed it had received word from Chinese authorities of the purchase being approved.
With the acquisition - the largest wireless-equipment deal in at least a decade, according to data compiled by Bloomberg - Google becomes a competitor to the other handset makers that make Android devices.
In addition to Motorola Mobility phones, the software is used in handsets made by companies such as Samsung and HTC.
As part of the approval, Google needs to ensure that Android software versions are free and open over the next five years, China’s Ministry of Commerce said in a statement on its website.
Google will report to an independent monitor in China on its efforts to comply with terms of the deal approval, according to the website.
telegraph.co.uk
“We are pleased the deal has received approval in all jurisdictions,” Motorola Mobility said yesterday, confirming that the transaction has been approved in China.
“We expect to close imminently.” The deal helps Larry Page, the Google co-founder who took over as chief executive officer last year, push the web company to better compete with Apple’s iPhone and gain more clout for its Android software as it expands in the hardware business.
It also gives Google, the worlds’ biggest maker of smartphone software, a trove of 17,000 patents to protect Android devices in legal disputes with competitors.
The acquisition, announced last year, had already received approvals in Europe, the US and other jurisdictions worldwide.Motorola
Mobility had said in a regulatory filing in February that only Chinese clearance was still required. “Our stance since we agreed to acquire Motorola has not changed and we look forward to closing the deal,” Google said.
The company also confirmed it had received word from Chinese authorities of the purchase being approved.
With the acquisition - the largest wireless-equipment deal in at least a decade, according to data compiled by Bloomberg - Google becomes a competitor to the other handset makers that make Android devices.
In addition to Motorola Mobility phones, the software is used in handsets made by companies such as Samsung and HTC.
As part of the approval, Google needs to ensure that Android software versions are free and open over the next five years, China’s Ministry of Commerce said in a statement on its website.
Google will report to an independent monitor in China on its efforts to comply with terms of the deal approval, according to the website.
telegraph.co.uk
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