Google Sells Motorola Mobility to Lenovo for $2.91 Billion

LenovoIt seems like Google just bought Motorola and brought smartphone making back to America.  Google confirmed today that Lenovo has purchased Motorola Mobililty for $2.91 billion including $750 million in Lenovo shares.

However, Google will keep a majority of Motorola's patents and IP while Lenovo will own the Moto brand and trademarks.Lenovo will receive over 2,000 patent assets. Motorola advanced research will remain as part of Google. Google paid $12.5 billion for Motorola in 2011.

This deal makes Lenovo the third largest smartphone maker. The deal give Lenovo entry into the US market.  Motorola makes the Droid series for Verizon wireless as well as the designer color Moto X and cheap Moto G.

Lenovo is the largest PC maker in the world and owns the IBM PC business.