It was last week the Chinese company Lenovo bought IBM's low-end server business for $2.3 billion, and which was the biggest technology deal from China. But it is not the biggest one as of now because Google yesterday announced that Lenovo will be acquiring Motorola Mobility for $2.91 billion.
Google acquired Motorola in 2012, to build their own Android phones. Yesterday Google on its official blog posted about the “Lenovo to acquire Motorola” News.
Lenovo already have a mobiles while they are struggling to get a stand in the competitive smart phone market. As it is tough to get a place in the market with new brand. Lenovo will be acquiring the Motorola for $2.91 billion. Google bought the company for $2.91 billion. Even though Google had previously recovered some of the money that it spent on Motorola by selling the company's set-top operations last year to Arris Group Inc. for $2.35 billion. It seems that the acquisition of Motorola by Google was one of the biggest mistake they have made.
So with these purchase Lenovo will be one of the companies who produce PCs, smartphones and tablets. Lenovo will be retaining Management team of the Motorola too including Dennis Woodside, under him Google released Moto X and Moto G last year, even though they were not performed in the market as expected.
Both the deals (IBM and Google) need to be approved by United States and China. Which will be a matter of time.
This move will enable Google to devote our energy to driving innovation across the Android ecosystem, for the benefit of smartphone users everywhere says Larry Page.
You can Read more about this on the Google Official blog posted by Google CEO Larry Page.