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Google to buy Motorola Mobility for $12.5 billion

NEW YORK (Reuters) – Google Inc will buy phone hardware maker Motorola Mobility Holdings Inc for $12.5 billion to bolster adoption of its Android mobile software and compete with smartphone rival Apple Inc.

In its biggest deal to date, Google said it would pay $40 per share in cash, a 63 percent premium to Motorola Mobility’s Friday closing price on the New York Stock Exchange.

Aug 11, 2011