Technology Report: Google to buy Motorola Mobility for $12.5 billion

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	08/15/2011
Good afternoon Bit Setting its sights on rival Apple, Google announced its biggest deal ever, a $12.5 billion cash acquisition of mobile phone maker Motorola Mobility. Google's biggest foray into hardware comes weeks after a failed attempt to buy patents from bankrupt Nortel, and gives it an intellectual property library in wireless telephony to wage war on Apple and Microsoft. However, analysts agreed that that buy was more about the patents and less about the hardware. The news sent shock waves throughout the tech sector on Monday. Shares of InterDigital plunged 23 percent on the news, while Nokia shares jumped over 10 percent. In earlier news, video games publisher Electronic Arts is upbeat about Christmas holiday sales as it expects to release top titles and prepares its most high profile launch ever: "Star Wars: The Old Republic". Also China's Huawei Technologies, the world's No.2 network equipment maker, posted an 11 percent rise in its first-half sales as it closes in on market leader Ericsson. Josh Hargreaves Tech wrap LATEST NEWS Google to buy Motorola Mobility for $12.5 billion August 15, 2011 03:26 PM ET NEW YORK/SAN FRANCISCO (Reuters) - Google Inc is paying $12.5 billion to buy phone maker Motorola Mobility Holdings Inc, its biggest-ever deal, as protection against legal challenges from Apple Inc and other mobile rivals. | Full Article Electronic Arts upbeat about holiday season sales August 15, 2011 01:02 AM ET FRANKFURT, Aug 15 (Reuters) - Video games publisher Electronic Arts (EA) is upbeat about Christmas holiday sales as it expects to release top titles and prepares its most high profile launch ever: "Star Wars: The Old Republic". | Full Article InterDigital skids after Google goes for Motorola Mobility August 15, 2011 12:10 PM ET BANGALORE (Reuters) - Shares of InterDigital Inc plunged 23 percent on Monday after Google's $12.5 billion Mobility Holdings buy sparked worries that the search giant may no longer be interested in the company's wireless patents. | Full Article Huawei closes in on Ericsson, sees growth in consumer sector August 15, 2011 06:55 AM ET HONG KONG (Reuters) - China's Huawei Technologies Co Ltd, the world's No.2 network equipment maker, posted an 11 percent rise in its first-half sales as it closes in on market leader Ericsson. | Full Article Nokia jumps as Motorola Mobility bid rekindles M&A hope August 15, 2011 11:02 AM ET HELSINKI (Reuters) - Nokia Oyj shares jumped over 10 percent on Monday as Google Inc's offer for Motorola Mobility Holdings rekindled speculation of a bid for the Finnish mobile phone company. | Full Article BUSINESS NEWS U.S. banks continue to ease lending standards: Fed August 15, 2011 03:09 PM ET WASHINGTON (Reuters) - U.S. banks continue to ease lending standards and most terms on all major non-real estate loans during the past three months, the Federal Reserve reported in its quarterly survey of senior loan officers. | Full Article Fed's Lockhart says U.S. recession risks have risen August 15, 2011 03:20 PM ET FLORENCE, Alabama (Reuters) - The risk of a new U.S. recession has risen over the last couple of months, but an outright contraction will most likely be avoided, Atlanta Federal Reserve Bank President Dennis Lockhart said on Monday. | Full Article Time Warner Cable to buy Insight for $3 billion August 15, 2011 09:47 AM ET NEW YORK (Reuters) - Time Warner Cable said it will buy cable operator Insight Communications from Carlyle Group for $3 billion in cash to broaden its presence in the U.S. Midwest. | Full Article Euro zone bond debate raises pressure on Merkel August 15, 2011 11:34 AM ET BERLIN/FRANKFURT (Reuters) - Leading German business groups called on Monday for joint euro zone bond issuance, despite their government's opposition, and the European Central Bank showed its intent to defend Italy and Spain. | Full Article Rebels say Tripoli encircled as Gaddafi stays defiant August 15, 2011 04:05 PM ET ZAWIYAH, Libya (Reuters) - Libyan rebels said on Monday they had seized a second strategic town near Tripoli within 24 hours, completing the encirclement of the capital in the boldest advances of their six-month uprising against Muammar Gaddafi. | Full Article U.S. TOP NEWS Judge ends TV coverage of Mubarak case, angering opponents Republicans Perry, Bachmann share stage in Iowa UK's Cameron: will mend "broken society" after riots Special Report: The bonds that turned to dust Art thieves nab $250,000 Rembrandt from hotel RELATED VIDEO Breakingviews: Motorola a win for Google, concern for others Breakingviews: Apple could surpass $1 trillion valuation Turkish woman hopes to become "miracle mom" A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. 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