Google Closes On Motorola Mobility Acquisition
MOUNTAIN VIEW (CBS/AP) -- Google says it has completed its acquisition of phone maker Motorola Mobility and it has appointed a Google executive as the new CEO of the business.
Google says Dennis Woodside, previously president of Google's Americas region, is Motorola's new CEO. Departing CEO Sanjay Jha will help to ensure a smooth transition.
Google Inc. and Motorola Mobility Holdings Inc. announced the $12.5 billion deal last summer, expecting it would close late last year or early this year.
Approval from Chinese regulators was slow in coming. On Saturday, China approved the deal, on condition that Google Inc.'s Android software would remain free for other phone makers for at least five years.
Google is buying Motorola, a pioneer in the cellphone industry, to prop up its patent portfolio and help defend phone makers who use Android against litigation.
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