It's Official: Google Closes Deal to Acquire Motorola Mobility

Google can go ahead cross off "Acquire Motorola Mobility" from its to-do list, because as of today, the acquisition is officially a done deal, the sultan of search announced in a blog post. The deal, which jumped over several regulatory hurdles, including getting approval from the Anti-Monopoly Bureau of the Ministry of Commerce of China just a few days ago, lightens Google's purse by $12.5 billion, the price it paid to snag Motorola Mobility and its patent portfolio.

"We all remember Motorola’s StarTAC, which at the time seemed tiny and showed the real potential of these devices. And as a company who made a big, early bet on Android, Motorola has become an incredibly valuable partner to Google," Google CEO Larry Page said. "Sanjay Jha, who was responsible for building the company and placing that big bet on Android, has stepped down as CEO. I would like to thank him for his efforts and am tremendously pleased that he will be working to ensure a smooth transition as long-time Googler Dennis Woodside takes over as CEO of Motorola Mobility."

Woodside helped build Google's brand across the globe in locales such as the Middle East, Africa, Eastern Europe, and Russia. More recently, Page credit's Woodside with having helped increase Google's revenue in the U.S. from $10.8 billion to $17.5 billion in less than three years as President of the America's region. So, what comes next?

"I'm confident Dennis and the team at Motorola will be creating the next generation of mobile devices that will improve lives for years to come," Page said.