Motorola Mobility Holdings Inc. (MMI) has agreed to purchase start-up firm 3LM Inc. for a price ranging from $6 million to $10 million, The Wall Street Journal reported Sunday. The deal, expected to be announced on Monday, will mark the first acquisition by the company after it was spun off from Motorola Inc. on January 4.
3LM develops software to improve the security of Android-powered mobile devices. It was founded in July by two former employees of Google Inc. (GOOG) who were part of the team that developed Android operating system.
The deal is expected to aid 3LM in capturing a bigger share of the business market that is being dominated by BlackBerry maker Research in Motion Ltd. (RIMM, RIM.TO).
Android software, licensed free, has become widely used in various devices, including tablet computers. Last week, handset maker Nokia Corp. (NOK) and software giant Microsoft Corp. (MSFT) announced a strategic partnership, whereby Nokia would adopt Windows Phone as its principal smartphone strategy. The deal is being viewed as an effort to take on challenges posed by Android.
MMI closed Friday's regular trade at $31.15, down $0.04 or 0.13%, on 1.8 million shares.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.