Lenovo wraps up purchase of Motorola phone unit
BEIJING (AP) — Chinese computer maker Lenovo Group has completed its acquisition of Motorola Mobility from Google Inc. in a move aimed at becoming a global smartphone brand.
Lenovo said it completed the $2.9 billion purchase on Thursday, adding to a flurry of acquisitions and initiatives aimed at transforming the world's biggest maker of personal computers into a major player in wireless computing.
Google bought Motorola Mobility in 2012 for $12.4 billion but appeared to decide quickly the purchase was a mistake. It sold its set-top operations to Arris Group Inc. for $2.35 billion and its smartphone assets, along with some 2,000 patents, to Lenovo.
Lenovo chairman Yang Yuanqing said when the purchase was announced in January that it would help transform Lenovo into a global competitor in smartphones.