Google Inc (GOOG.O) said it will purchase phone hardware maker Motorola Mobility Holdings Inc (MMI.N) for $12.5 billion in cash to bolster the adoption of its Android mobile software. In its biggest deal to date, Google said it would pay $40 per share, a 63 percent premium to Motorola Mobility's Friday closing price on the New York Stock Exchange. "What is says is that Google wants to provide a total experience that's hardware and software (like Apple)," said BGC Partners analyst Colin Gillis. Shares of Motorola Mobility, which focuses on smartphone and TV set-top boxes, jumped 59 percent in premarket trade on Monday.
Google Inc. (Google) is focused on improving the ways people connect with information. Shares of GOOG remained unchanged at $563.77. In the past year, the shares have traded as low as $447.65 and as high as $642.96. On average, 3353060 shares of GOOG exchange hands on a given day and today's volume is recorded at 194893.
Motorola Mobility Holdings, Inc. is a provider of technologies, products and services that enable a range of mobile and wireline digital communication, information and entertainment experiences. Shares of MMI remained unchanged at $24.47. In the past year, the shares have traded as low as $20.77 and as high as $36.54. On average, 4288420 shares of MMI exchange hands on a given day and today's volume is recorded at 9655515.
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