After waiting for months Google CEO Larry page finally announced that his company now officially owns Motorola Mobility. Google announced to acquire Motorola Mobility for $12.5 billion in August. But the companies had to clear the regulatory hurdles in order to get the deal done. Regulators in both thee U.S. and the European Union approved the acquisition back in February, but the companies were forced to wait for China. Over the weekend, China approved the deal, paving the way for Google to close it.
Google has made it clear that Motorola will operate independently from its own operation, and the search giant/Android maker will not show any favoritism. However, according to reports, China was not so convinced of that, and forced Google to agree to keep Android open and free for a period of five years to ensure it didn't change its stance and give Motorola preferential treatment.
As the of the acquisition, Page announced today that Motorola Mobility Chief Sanjay Jha has stepped down from his post. In his place, Google has announced Dennis Woodside to be the mobile firm's new chief executive.
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