Chinese regulators have approved Google Inc.'s (GOOG) $12.5 billion acquisition of Motorola Mobility Holdings Inc. (MMI), reports said Saturday.
The deal, announced in last August, is expected to boost competition in mobile computing as Motorola Mobility has been a dedicated Android partner in developing and distributing innovative Android-powered devices.
Motorola Mobility was created when Motorola, Inc. was split into two independent and separately traded public companies that began trading on the NYSE as Motorola Mobility and Motorola Solutions, Inc. (MSI).
Motorola Mobility provides a complete portfolio of mobile converged devices, digital entertainment devices in the home, and end-to-end video, voice and data solutions through two global technology businesses.
The mobile devices business provides smartphone devices and mobile handsets, while the home business provides digital set-top boxes and end-to-end video solutions.
Motorola Mobility will remain a licensee of Android and Android will remain open. Google will run Motorola Mobility as a separate business.
The deal will strengthen Google's patent portfolio and will position it better to compete with technology giant Apple Inc. (AAPL). The deal has already received regulatory approvals in the U.S. and Europe.
GOOG settled on Friday at $600.40, down 3.64 percent, on a volume of 5.98 million shares.
MMI closed unchanged at $39.20 on Friday.
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