Google set to buy 6% stake in Lenovo group following Motorola sale
Google is set to acquire a 6 per cent stake in Chinese tech manufacturer Lenovo Group for $750m, following the deal between the two companies to sell Motorola.
According to a stock exchange filing, Google is set to complete the acquisition of 10,403,809,509 shares following the sale of Motorola Mobility to Lenovo, which agreed the deal last month, while it also bought IBM’s server hardware business for $2.3bn as well.
The Chinese technology company, which currently develops and sells PCs, mobiles, tablets, servers and workstations, including the ThinkPad notebook computer, agreed the $3bn deal to acquire Motorola for $2.9bn, less than two years after Google bought the company for $12.4bn.