NEW YORK: The shareholders of Motorola Mobility Holdings Inc have given its green signal to $12.5-billion acquisition of the firm by Google Inc.
Mr Sanjay Jha, Motorola Mobility Chairman and CEO, has stated that the transaction has been supported by over 99% of the overall number of voted shares in the voting on the recommended merger with Google.
Mr Sanjay Jha, said, “We look forward to working with Google to realise the significant value this combination will bring to our stockholders and all the new opportunities it will provide our dedicated employees, customers, and partners.”
During August, Google has stated that it will be acquiring Motorola Mobility for $12.5 billion, which will make it the biggest ever purchase by the Internet firm until now.
The offerings from Motorola Mobility consist of smartphones, tablets and wireless accessories. The company's share in the handset market has been hit in the recent times, particularly with the strong competition from players like Apple and HTC.
Moreover, the deal will be strengthening Google’s competitive edge in the mobile computing arena and it will also give access to Motorola’s range of Android operating system-based offerings. Reports suggest that both Google and Motorola have got good presence in India.
Motorola is hoping that the merger to become reality by early next year.