updated 10:28 am EDT, Tue May 22, 2012
Deal proceeds despite regulator, competitor concerns
Google has announced that its proposed acquisition of Motorola Mobility has been closed, following necessary approvals from the US Department of Justice, European Union and other international agencies. Current Motorola Mobility CEO Sanjay Jha will continue to help complete the transition, however he will step down as chief executive as Google veteran Dennis Woodside takes the leadership role.
"I've known Dennis for nearly a decade, and he's been phenomenal at building teams and delivering on some of Google's biggest bets," said Google CEO Larry Page. "Dennis has always been a committed partner to our customers and I know he will be an outstanding leader of Motorola--and he's already off to great start with some very strong new hires for the Motorola team."
Google has already hired several other individuals to join Motorola's executive team, including former DARPA director Regina Dugan, former Amazon and Nokia supply-chain VP Mark Randall, former Marsh & McLennan CFO Vanessa Whitman, former Nvidia and Visa HR head Scott Sullivan, and former Google marketing VP Gary Briggs, among others.
"Our aim is simple: to focus Motorola Mobility's remarkable talent on fewer, bigger bets, and create wonderful devices that are used by people around the world," Woodside added.
The $12.5 billion buyout marks Google's first attempt to directly control part of the Android hardware market, however the company has worked to assuage fears that the move would prove detrimental to competitors in the Android market. The search giant has committed to keeping the platform open, while unconfirmed reports suggest the next Nexus-branded devices may be simultaneously developed by several different hardware makers rather than just one.