The Presidential Daily Brief

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  1. Google Sells Motorola Mobility to Lenovo for $2.91 Billion

    Google is exiting the smartphone hardware business just 22 months after acquiring Motorola Mobility for $12.5 billion, but it’s retaining 17,000 patents it gained from Motorola, which help protect devices running its Android operating system. For Lenovo, this comes on the heels of the $2.3 billion acquisition of a large portion of IBM’s computer server unit and is part of a strategy to help it counter falling personal computer sales. The move could be a win for both companies, freeing Google from potential conflicts of interest with other hardware makers using its Android system and giving Lenovo a foothold in higher-end smartphone markets.

    Sources: WSJ, NYT, Bloomberg

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