China OKs Google's deal on Motorola
Source: Agencies |
May 21, 2012, Monday
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Print Edition
Print Edition
GOOGLE said on Saturday that Chinese authorities have approved its US$12.5 billion purchase of Motorola Mobility Holdings, the last regulatory hurdle to a deal that would allow the world's No. 1 Internet search engine to develop its own line of smartphones.
Google, which will be the newest entrant to the handset market, unveiled plans for the acquisition last year in a bid to secure Motorola's valuable patents and pave the way for a pairing of Google's Android mobile software and Motorola's handset business.
US and European regulators approved the deal in February.
"Our stance since we agreed to acquire Motorola has not changed, and we look forward to closing the deal," Google spokeswoman Niki Fenwick said, confirming the Chinese had approved the deal.
Google, whose Android software is the top operating system for Internet-enabled smartphones, wants Motorola for its 17,000 patents and 7,500 patent applications, as it competes with Apple Inc and defend itself and in patent litigation.
A main condition of the deal is that the Android system remain free and open for five years, said a source who is familiar with the Chinese approval but not authorized to discuss it.
Google, which will be the newest entrant to the handset market, unveiled plans for the acquisition last year in a bid to secure Motorola's valuable patents and pave the way for a pairing of Google's Android mobile software and Motorola's handset business.
US and European regulators approved the deal in February.
"Our stance since we agreed to acquire Motorola has not changed, and we look forward to closing the deal," Google spokeswoman Niki Fenwick said, confirming the Chinese had approved the deal.
Google, whose Android software is the top operating system for Internet-enabled smartphones, wants Motorola for its 17,000 patents and 7,500 patent applications, as it competes with Apple Inc and defend itself and in patent litigation.
A main condition of the deal is that the Android system remain free and open for five years, said a source who is familiar with the Chinese approval but not authorized to discuss it.
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