China Approves Google-Motorola Mobility Acquisition Deal
Chinese regulatory authorities have approved Google's acquisition of Motorola Mobility, paving the way for the deal to close within the week, company officials confirmed Saturday.
The companies announced last August that they had entered into an agreement for Google to acquire mobile phone and tablet maker Motorola Mobility for about US$12.5 billion.
"We are pleased that the deal has received approval in all jurisdictions," Motorola spokeswoman Jennifer Erickson said Saturday. "We expect to close early next week."
A Google spokeswoman confirmed the deal was approved early Saturday and that it should close within the week.
Motorola Mobility ships phones and tablets with Google's Android operating system. The close of the deal means that Google has a hardware manufacturing arm with which it can closely work to develop Android.
Google will also have control of Motorola's massive patent portfolio. Motorola Mobility has said that it owns or has applied for more than 24,000 patents.
The deal has already been approved by antitrust authorities in the U.S. and Europe. Chinese authorities have approved the deal on condition that Google keep Android free and available to other mobile device manufacturers for five years, according to a source close to the deal.