Larry Page googles for handset, says hello Moto

11/11/2011 12:53

In a bid to strengthen its mobile business, Google announced on Monday that it would acquire Motorola Mobility Holdings, the cellphone business that was split from Motorola, for $40 a share in cash, or $12.5 billion. The acquisition has been approved by both boards. 

The offer - by far Google's largest ever for an acquisition - is 63% above the closing price of Motorola Mobility shares on Friday. Motorola manufactures phones that run on Google's Android software.