Lenovo nears $3.8b deal to buy Google's Motorola unit: Sources
Published on Jan 30, 2014 6:58 AM
NEW YORK (REUTERS) - China's Lenovo Group is nearing a deal to buy Google Inc's Motorola handset division for close to US$3 billion (S$3.8 billion), people familiar with the matter told Reuters on Wednesday, buying its way into a heavily competitive United States (US) handset market dominated by Apple Inc.
Lenovo is in the final stages of talks to buy the Google division that makes the Moto X and Moto G smartphones, as well as certain patents, the sources said.
A sale of Motorola would mark the end of Google's short-lived foray into making mobile devices and a pullback from its largest-ever acquisition. Google bought the US cellphone giant in 2012 for US$12.5 billion but has struggled to revamp the money-losing business.
It also would mark Lenovo's second major deal on US soil in a week, as it angles to get a foothold in major global computing markets. The Chinese electronics company last week announced a deal to buy IBM's low-end server business for US$2.3 billion in what was China's biggest technology deal thus far.
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