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Google upped Moto bid by $3 billion

Google upped Moto bid by $3 billion
Moto, a price worth paying for Google?

Google opened its bidding for Motorola Mobility more than $3 billion dollars below what it eventually paid, according to a filing with the Securities and Exchange commission.

Google's desire to keep Moto, and its shed-load of patents, from going to a public auction saw the search giant dip into its deep pockets to fork out $12.5 billion – or $40 a share.

An initial offer of $30 a share fell well short of Moto's counter – $43.50 – but a compromise was eventually found, and the 17,000 parents, along with a hardware company, became Google's.

Month of negotiations

The filing also revealed that talks began on the purchase back in early July, just over a month before a final price was agreed for the US company.

The deal was finally signed on 15 August, after the board decided against looking for a counter bid from another party.

Although phone patents is at the centre of Google's purchase, the company has already indicated that it will not let Moto's other properties disappear.

Not only with the company's hardware business continue, but expertise in things like set top boxes will also come in handy as Google looks to the future.

From Bloomberg via Engadget