Google Inc. (GOOG: Quote) announced the completion of the acquisition of Motorola Mobility Holdings Inc. (MMI: Quote) for $40.00 per share cash or a total of about $12.5 billion. Google said the purchase would enable it to supercharge the Android ecosystem and would improve competition in mobile computing. Motorola Mobility would remain a licensee of Android and Android would remain open, while Google would run Motorola Mobility as a separate business.
Sanjay Jha, who revived Motorola's Mobile Devices business and led the company through this acquisition, has stepped down as chief executive, though he would continue to work with Google to help ensure a smooth transition. Dennis Woodside, who has overseen integration planning for the acquisition and earlier served as President of Google's Americas region, has become CEO of Motorola Mobility.
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by RTT Staff Writer
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