Kaylene Hong was Asia Reporter for The Next Web between 2013 and 2014, based in Singapore. She is bilingual in English and Mandarin. Stay in Kaylene Hong was Asia Reporter for The Next Web between 2013 and 2014, based in Singapore. She is bilingual in English and Mandarin. Stay in touch via Twitter or Google+.
Update: While the deal was discovered on the Hong Kong Stock Exchange by media today, it was actually a part of the deal for Motorola which Google and Lenovo announced last week and was announced by the HKSE on January 30. Apologies for any confusion that reporting it today might have created.
The original post continues below…
It has been revealed in a disclosure to the Hong Kong Stock Exchange that Google bought a 5.94 percent stake in Lenovo for $750 million on January 30 this year, Reuters reports. In total, Google purchased 618.3 million Lenovo shares at $1.213 per share.
The move came right after Google announced it was selling Motorola to Lenovo for $2.91 billion — though the deal has yet to be reviewed by US and China regulators. Lenovo will be keeping Motorola’s brand, but Google will retain the majority of its patents that will be used to “defend the entire Android ecosystem.”
We’ve reached out to Google to see if it has anything further to say about its investment in Lenovo.
➤ Google bought $750 million Lenovo stake on January 30: Hong Kong exchange [Reuters]
Thumbnail image via Justin Sullivan/Getty Images
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