Lenovo Group said on Wednesday it agreed to buy Google Inc\’s Motorola handset division for $2.91 billion, in what is China\’s largest-ever tech deal as Lenovo buys its way into a heavily competitive U.S. handset market dominated by Apple Inc.
It is Lenovo\’s second major deal on U.S. soil in a week as the Chinese electronics company angles to get a foothold in major global computing markets. Lenovo last week said it would buy IBM\’s low-end server business for $2.3 billion.
The deal ends Google\’s short-lived foray into making consumer mobile devices and marks a pullback from its largest-ever acquisition. Google paid $12.5 billion for Motorola in 2012. Under this deal the search giant will keep the majority of Motorola\’s mobile patents, considered its prize assets.
via Lenovo to buy Google’s Motorola in China’s largest tech deal | Reuters.
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