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Thursday, October 30, 2014

Lenovo closes $2.91 billion acquisition of Motorola unit from Google, (NASDAQ: GOOG)

China's Lenovo Group Ltd said Thursday it has closed its $2.91 billion acquisition of the Motorola handset unit from Google Inc, paving the way for a fresh assault on the U.S. smartphone market. The purchase comes as Lenovo, the world's leading PC maker, ramps up its effort to diversify its business and establish itself as a smartphone maker with global appeal.

Google Inc. (Google), is a global technology company. Shares of GOOG traded higher by 0.08% or $0.43/share to $549.33. In the past year, the shares have traded as low as $502.80 and as high as $604.83. On average, 1733220 shares of GOOG exchange hands on a given day and today's volume is recorded at 1767107.