WASHINGTON – Lenovo (IW 1000/114) announced Thursday it has completed its acquisition of Motorola Mobility from Google, a move strengthening the Chinese giant's position in the smartphone market.
The $2.9 billion deal, announced in January, ends Google's brief ownership of the onetime mobile phone star.
Lenovo will operate Motorola as a wholly owned subsidiary, keeping the Chicago-based headquarters and adding some 3,500 employees, including 2,800 in the United States.
"Today, we achieved a historic milestone for Lenovo and for Motorola -- and together we are ready to compete, grow and win in the global smartphone market," Lenovo chairman and chief executive Yang Yuanqing said in a statement.
He hailed the partnership as a "perfect fit," adding that Motorola "brings a strong presence in the US and other mature markets, great carrier relationships, an iconic brand, a strong IP portfolio and an incredibly talented team."
In the same statement, Google CEO Larry Page said that "Motorola is in great hands with Lenovo, a company that's all-in on making great devices."
Copyright Agence France-Presse 2014