Motorola Mobility announced today that its acquisition by Chinese tech giant Lenovo has finally closed, almost 10 months after the deal was first announced. Lenovo purchased the smartphone maker from Google for $2.91 billion, significantly less than the $12.5 billion the Mountain View-based search giant paid two years ago.
Motorola’s brands will continue, and the company will operate as a wholly-owned subsidiary of Lenovo. It will continue to operate its existing offices. Lenovo is no stranger to the smartphone market, and holds significant share outside the U.S. Motorola’s brand will give the company a way to reach customers it hasn’t yet tried to access.
The companies have a long road ahead, though: Motorola’s market share in the U.S. has sunk since its acquisition by Google, despite positive reviews for its phones.