Google Announces Closing of Acquisition of Motorola Mobility

Google Inc. GOOG announced today that the acquisition of Motorola Mobility Holdings, Inc. MMI has closed, with Google acquiring MMI for $40.00 per share in cash. The acquisition will enable Google to supercharge the Android ecosystem and will enhance competition in mobile computing. Motorola Mobility will remain a licensee of Android and Android will remain open. Google will run Motorola Mobility as a separate business. Sanjay Jha, who revived Motorola's Mobile Devices business and led the company through this acquisition, has stepped down as CEO, although he will continue to work with Google to help ensure a smooth transition.