Motorola shareholders vote in favour of $US12.5 billion takeover deal
It was first announced in August this year, but shareholders of Motorola Mobility have finally agreed to accept Google's $US 12.5 billion takeover offer.
Roughly 74 per cent of those that attended the last stockholders meeting Thursday (November 17) voted in favour of the deal, which has generated interest in and outside of the mobile sector.
The US telecommunications company said that 99 per cent of all shareholders supported the bid and were happy with the board's decision.
"We are pleased and gratified by the strong support we have received from our stockholders … We look forward to working with Google to realise the significant value this combination will bring," said Sanjay Jha, chairman and chief executive officer of Motorola Mobility.
With both parties in agreement, it now looks like any remaining paperwork will be formalised in early 2012.
But this depends on the outcome of a review of Google's proposal, which is currently being undertaken by the US Justice Department.
In August, the search engine said that acquiring Motorola would allow the company to have greater control over the running of its Android service.
"The combination of Google and Motorola will not only supercharge Android, but will also enhance competition and offer consumers accelerating innovation, greater choice, and wonderful experiences," asserted chief executive officer Larry Page.
But this does not mean that Google will change or discontinue partnerships with other mobile networks.
Instead, the deal will give the internet brand an estimated portfolio of more than 17,000 patents, which it will use in its lawsuits against competitors.
"Our acquisition of Motorola will increase competition by strengthening Google's patent portfolio which will enable us to better protect Android from anti-competitive threats from Microsoft, Apple and other companies," said Mr Page.
Motorola is set to remain a licensee of Andriod, but it will run as a separate business that is distinct from the Google brand.
Posted by Aimee McBride