Motorola Mobility shareholders give nod to Google takeover

Shareholders of Motorola Mobility Holdings have given the thumbs-up to the acquisition of the company by internet giant and Android owner Google Inc. 99 per cent of shareholders supported the proposed merger with Google, which is said to be worth $12.5 billion. "We look forward to working with Google to realise the significant value this combination will bring to our stockholders and all the new opportunities it will provide our dedicated employees, customers, and partners," said Motorola Mobility Chairman and CEO Sanjay Jha. The acquisition will mark Google’s biggest ever takeover and will see them swallow up Motorola’s complete product line including smartphones, tablets and accessories. Google buys Motorola for $40 a share As well as swelling its patent portfolio, which is likely to help the company hold off lawsuits from competitors, the merger will also allow Google, whose Android operating system has been gaining significant momentum, to gain further ground in the mobile sector. A quote from a press release that originally announced the proposed takeover reveals Google's intentions: “The acquisition of Motorola Mobility, a dedicated Android partner, will enable Google to supercharge the Android ecosystem and will enhance competition in mobile computing. Motorola Mobility will remain a licensee of Android and Android will remain open. Google will run Motorola Mobility as a separate business.” The deal still needs to be approved by the US competition watchdog, but the acquisition is expected to be completed by early 2012.