Google agreed on Monday to a deal to buy mobile handset maker Motorola Mobility for 12.5 billion dollars (8.6 billion euros) to bolster adoption of its Android mobile software and compete with smart phone rival Apple Inc. It is the biggest achievement in the search engine giant’s history if approved by shareholders and regulators.
‘Motorola Mobility’s total commitment to Android has created a natural fit for our two companies,’ said Larry Page, CEO of Google, in a statement.
‘Jointly, we will create wonderful user experiences that supercharge the whole Android ecosystem for the benefit of consumers, partners and developers’ said Google CEO.
Lazard advised Google on the deal, while Motorola used Centerview Partners and Frank Quattrone’s Qatalyst Partners.
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