Google has bought a 5.94 per cent stake in Lenovo for $US750 million ($A839.30 million) while also agreeing to sell handset maker Motorola to the Chinese technology giant. The US internet firm acquired 618.3 million shares in the PC maker at $1.213 each when Lenovo bought Motorola for $US2.91 billion last Thursday, according to Dow Jones Newswires. The deal provides Lenovo with footholds in smartphone and tablet markets where it is eager to gain traction. It also came just a week after the Chinese firm said it will buy IBM's low-end server business for $US2.3 billion, giving it a platform to compete in that sector with US giants Dell and Hewlett-Packard.
Post a Comment