China approves Google’s Motorola deal
Beijing: Chinese authorities have finally approved Google’s 12.5 billion dollar purchase of Motorola Mobility Holdings.
Now, the world''s most popular Internet search engine would be allowed to develop its own line of smart phones.
Google announced plans for the acquisition last August in a bid to secure Motorola''s valuable patents and pave the way for a pairing of Google''s Android mobile software and Motorola''s handset business.
The firm gained approval from US and European regulators in February, leaving only the Chinese regulators as potential spoilers, News 24 reports.
Motorola spokesperson, Jennifer Weyrauch-Erickson, confirmed that the deal has now received approval in all jurisdictions.
“We are pleased that the deal has received approval in all jurisdictions and we expect to close early next week,” the report quoted Weyrauch-Erickson, as saying.
Google, which owns top mobile operating system Android, wants Motorola for its 17 000 patents and 7 500 patent applications, as it aims to compete with tech giant Apple.