Motorola has had quite the successful year. Head honcho Sanjay Jha highlights:
“The introduction of RAZR™ MAXX marked another successful addition to the Motorola product family and contributed to our growth in smartphones. Our Home business delivered another solid quarter highlighted by improvement in year-over-year profitability”.
While MOTO has done well, everyone has had their eyes on the acquisition by Google, so it was assumed all is well with the deal and there was no news or any issues. After all, you know what they say: no news is good news, right? Well MOTO has given us some insights and an update on the progress of the acquisition. In its just-released first-quarter earnings statement, MOTO highlights there’s only one more obstacle for the completion of the acquisition— and it’s a big one. Apparently China isn’t quite sold on the idea of a mega-merger just yet and wants further investigation:
“Motorola Mobility and Google continue to work closely with the authorities in China for approval on the acquisition. The transaction has been investigated and cleared without conditions in all other jurisdictions with pre-closing clearance requirements. We continue to expect the transaction to close during the first half of 2012”.
Well we’re in May already, so let’s hope MOTO seals the deal already.
source: Motorola Mobility