Wednesday, January 29, 2014

LENOVO to pay GOOGLE US$3 Billions for the MOTOROLA handset division.

WorldWide Tech & Science. Francisco De Jesùs.

The logo of Lenovo is seen on a computer monitor during a news conference in Hong Kong May 27, 2010. REUTERS/Tyrone Siu

Lenovo is buying its way into a heavily competitive U.S. handset market dominated by Apple Inc.

Lenovo is in the final stages of talks to buy the Google division that makes the Moto X and Moto G smartphones, as well as certain patents.

Google bought the Motorola U.S. cellphone giant in 2012 for $12.5 billion but has struggled to revamp the money-losing business.

Lenovo  last week announced a deal to buy IBM's low-end server business for $2.3 billion in what was China's biggest technology deal thus far.

The Chinese firm will use a combination of cash and stock as well as deferred payments to finance the deal with Google, the people said, asking not to be named because the matter is not public.

Lenovo is being advised by Credit Suisse Group while Lazard Ltd advised Google on the transaction, the people said.

Representatives for Google, Lenovo, Credit Suisse and Lazard did not respond to requests for comment or declined to comment.
An announcement could come as soon as Wednesday.




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