Google Acquires Motorola Mobility – Investor Relations – Google
`
`Page 1 of 3
`
`Investor Relations
`
`1. About Google
`2. Investor Relations
`3. Google Acquires Motorola Mobility
`
`Google Acquires Motorola Mobility
`
`MOUNTAIN VIEW, CA (May 22, 2012) – Google Inc. (NASDAQ: GOOG) announced today that the
`acquisition of Motorola Mobility Holdings, Inc. (NYSE: MMI) has closed, with Google acquiring MMI
`for $40.00 per share in cash.
`
`The acquisition will enable Google to supercharge the Android ecosystem and will enhance
`competition in mobile computing. Motorola Mobility will remain a licensee of Android and Android
`will remain open. Google will run Motorola Mobility as a separate business.
`
`Sanjay Jha, who revived Motorola’s Mobile devices business and led the company through this
`acquisition, has stepped down as CEO, although he will continue to work with Google to help
`ensure a smooth transition.
`
`Dennis Woodside, who has overseen integration planning for the acquisition and previously served
`as President of Google’s Americas region, has become CEO of Motorola Mobility.
`
`Larry Page, CEO of Google, said, “I’m happy to announce the deal has closed. Motorola is a great
`American tech company, with a track record of over 80 years of innovation. It’s a great time to be in
`the mobile business, and I’m confident that the team at Motorola will be creating the next
`generation of mobile devices that will improve lives for years to come.
`
`“Sanjay Jha, who was responsible for building the company and placing a big bet on Android, has
`stepped down as CEO. I would like to thank him for his efforts and am tremendously pleased that
`he will be working to ensure a smooth transition as long-time Googler Dennis Woodside takes over
`as CEO of Motorola Mobility.
`
`“I’ve known Dennis for nearly a decade, and he’s been phenomenal at building teams and
`
`Google Acquires Motorola Mobility – Investor Relations – Google
`
`

`

`Google Acquires Motorola Mobility – Investor Relations – Google
`
`Page 2 of 3
`
`delivering on some of Google’s biggest bets. Dennis has always been a committed partner to our
`customers and I know he will be an outstanding leader of Motorola--and he’s already off to great
`start with some very strong new hires for the Motorola team.”
`
`Dennis Woodside, CEO of Motorola Mobility, said: “Motorola literally invented the entire mobile
`industry with the first-ever commercial cell phone in 1983. Thirty years later, mobile devices are at
`the center of the computing revolution.
`
`“Our aim is simple: to focus Motorola Mobility’s remarkable talent on fewer, bigger bets, and create
`wonderful devices that are used by people around the world.”
`
`Dennis Woodside has hired a small number of leaders who will immediately join Motorola’s
`executive team, including Regina Dugan (former Director of DARPA), Mark Randall (former supply
`chain VP at Amazon and previously at Nokia), Vanessa Wittman (former CFO of Marsh &
`McLennan), Scott Sullivan (former head of HR at Visa and NVIDIA), and Gary Briggs (former
`Google VP of Consumer Marketing). In addition to these new leaders, many members of Motorola
`Mobility’s team will continue in their current roles: Iqbal Arshad (Product Development), Marshall
`Brown (Chief of Staff), Fei Liu (Mass Market Products), Dan Moloney (Home), Scott Offer (General
`Counsel), Mark Shockley (Sales), Mahesh Veerina (Software & Enterprise) and Jim Wicks
`(Consumer Experience Design).
`
`Woodside added: “Motorola Mobility has many outstanding leaders, including people who were
`behind the original RAZR in 2004 and recent successes like the Droid and RAZR MAXX. Our
`colleagues joining the team come from varied backgrounds, from DARPA to Amazon and NVIDIA,
`but they all share a track record of leading innovation at speed, and a great deal of excitement
`about the mission ahead.”
`
`About Dennis Woodside
`Dennis Woodside oversaw Google’s acquisition of Motorola Mobility, and is former President of
`Google’s Americas region. He has worked with partners, governments and advertisers in more
`than 30 countries. Most recently, Dennis was responsible for Google’s Sales & Operations in the
`Americas. In the U.S. alone, Dennis and his team drove revenue from $10.8 billion to $17.5 billion
`in under three years. He also was the lead business partner for Google’s advertising product
`development team, helping launch new ad products globally. Dennis started his career at the
`company spearheading investment across Europe, the Middle East, and Africa. He was
`responsible for the overall go-to-market, product offering and acquisition strategies in these
`markets, which boasted a 20-fold increase during his tenure. Revenues grew to over $2 billion.
`
`Google Acquires Motorola Mobility – Investor Relations – Google
`
`

`

`Google Acquires Motorola Mobility – Investor Relations – Google
`
`Page 3 of 3
`
`About Google Inc.
`Google’s innovative search technologies connect millions of people around the world with
`information every day. Founded in 1998 by Stanford Ph.D. students Larry Page and Sergey Brin,
`Google today is a top web property in all major global markets. Google’s targeted advertising
`program provides businesses of all sizes with measurable results, while enhancing the overall web
`experience for users. Google is headquartered in Silicon Valley with offices throughout the
`Americas, Europe and Asia. For more information, visit www.google.com.
`
`Forward-Looking Statements
`This press release includes forward-looking statements within the meaning of Section 27A of the
`Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-
`looking statements generally can be identified by phrases such as Google or its management
`“believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of
`similar import. Similarly, statements herein that describe the future impact of the Motorola Mobility
`acquisition, including its financial impact, and other statements of management’s beliefs, intentions
`or goals also are forward-looking statements. It is uncertain whether any of the events anticipated
`by the forward-looking statements will transpire or occur, or if any of them do, what impact they will
`have on Google’s results of operations, financial condition, or the price of its stock. These forward-
`looking statements involve certain risks and uncertainties that could cause actual results to differ
`materially from those indicated in such forward-looking statements, including but not limited to the
`ability of Google to successfully integrate Motorola’s operations, product lines and technology; the
`ability of Google to implement its plans, forecasts and other expectations with respect to Motorola’s
`business and realize additional opportunities for growth and innovation; and the other risks and
`important factors contained and identified in Google’s filings with the Securities and Exchange
`Commission (the “SEC”), any of which could cause actual results to differ materially from the
`forward-looking statements. The forward-looking statements included in this press release are
`made only as of the date hereof. Google does not undertake any obligation to update the forward-
`looking statements to reflect subsequent events or circumstances.
`
`Google Acquires Motorola Mobility – Investor Relations – Google
`
`