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Google Buys Motorola For A Cool $12.5 Billion

The Google is now actively chasing Apple -- in particular by buying Motorola Mobility:
Google just announced that it is acquiring Motorola Mobility. The search and online advertising company is buying the company for approximately $12.5 billion (or $40 per share), in cash. The price represents a premium of 63 percent to the closing price of Motorola Mobility shares last Friday. Google had about $39 billion in cash at last count.

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In a blog post, Google co-founder and CEO Larry Page writes that Google has acquired Motorola not only because of its strength in Android smartphones and devices, but also for being a “market leader in the home devices and video solutions business.”

It’s also a move to build up the company’s patent portfolio, he adds, as it will “enable us to better protect Android from anti-competitive threats from Microsoft, Apple and other companies”.
All I was nt to know is this: Will there be a reasonably priced competitor for the iPhone. If not, this is one area where Google will not have my business.

[Google, if you are listening, you've got two months. That is when my contract with Verizon is up -- and when I can get a sweet discount on a new phone my new iPhone. Just sayin'...]