Eric Schmidt: Motorola Purchase Was Also Aimed At Acquiring Products, Not Just Patents
Google Inc. (NASDAQ:GOOG) Chairman Eric Schmidt recently had a conversation with Salesforce.com, Inc. CEO March Benioff about Google’s purchase of Motorola Mobility. Schmidt said that Google spent $12.5 billion on Motorola for more than just the company’s patents. Google also had an interest in Motorola’s smartphone products. “We did it for more than just patents,” said Schmidt. “The Motorola team has some amazing products.”
Google believes that the acquisition of Motorola will allow them to expand in the smartphones market and effectively compete against Apple Inc. (NASDAQ:AAPL). Google will receive over 17,000 patents through the acquisition of Motorola to protect the Android operating system too. Schmidt also praised Apple CEO Steve Jobs and said that he is proud of the time he spent as an Apple board of director.
“It’s certainly the best performance of a CEO in 50 years,” said Schmidt referring to Jobs. “We’ve all benefited from the tremendous innovation at Apple. And I say this as a very proud former board member at Apple.” Schmidt was on the Apple board of directors when he was CEO of Google, but ended up stepping down in August 2009 as the company’s rivalry intensified.@amitchowdhry or on Google+ at +AmitChowdhry