Lenovo buys Motorola From Google For $2.91 Billion

theverge has confirmed that Google has signed an agreement to sell Motorola to Lenovo for $2.91 billion, but Google keeps its patents Lenovo will still receive 2,000 patent assets and the Motorola Mobility brand and trademark.

That’s a fair bit less than the $12.5 billion the Googs paid back in 2012, The company certainly still lost money on the deal, but it isn’t quite as bad as it seems.

Out of $2.91 billion, $1.41 billion will be paid at the close of the deal. $660 million will be comprised of US cash and $750 million in Lenovo ordinary shares. The remaining $1.5 billion will be paid in the form of a three-year promissory note.