By Andrew Feinberg - 05/22/12 06:45 PM EDT
Google completed its long-awaited acquisition of phone maker Motorola Mobility on Wednesday, according to a blog post by CEO Larry Page, who wrote "I’m excited to announce today that our Motorola Mobility deal has closed."
The deal was approved by U.S. regulators several months ago, but the two companies had been waiting on the go-ahead from the Chinese government. Motorola, long a pioneer in mobile phone technology, was an early adopter of Google's Android mobile operating system and has manufactured some of the most high-profile and feature-rich Android phones available.
"[A]s a company who made a big, early bet on Android, Motorola has become an incredibly valuable partner to Google," he added.
Page announced that Google executive Dennis Woodside will take over as CEO from Sanjay Jha, who shepherded the company through intense regulatory scrutiny from multiple countries during the acquisition process.
Page expressed his trust in Woodside, who he said he has known for over a decade. "[H]e’s been phenomenal at building teams and delivering on some of Google’s biggest bets," Page said.
"Many users coming online today may never use a desktop machine, and the impact of that transition will be profound - -as will the ability to just tap and pay with your phone," he said.
"That’s why it’s a great time to be in the mobile business, and why I’m confident Dennis and the team at Motorola will be creating the next generation of mobile devices that will improve lives for years to come," Page said.