BEIJING — Lenovo Group announced the completion of its acquisition of Motorola Mobility from Google Inc. on Thursday in a move aimed at making the Chinese computer maker a global smartphone brand.
The $2.9 billion purchase adds to a flurry of acquisitions and initiatives aimed at transforming Beijing-based Lenovo, the world’s biggest maker of personal computers, into a major player in wireless computing.
Google bought Motorola Mobility in 2012 for $12.4 billion but appeared to decide quickly the purchase was a mistake. It sold its set-top operations to Arris Group Inc. for $2.35 billion and its smartphone assets, along with some 2,000 patents, to Lenovo.
Continue reading at Newsfeed.