Google Inc. and Motorola Mobility Holdings, Inc. announced that they have entered into a definitive agreement under which Google will acquire Motorola Mobility for $40.00 per share in cash, or a total of about $12.5 billion, a premium of 63% to the closing price of Motorola Mobility shares on August 12, 2011. The transaction was unanimously approved by the Boards of Directors of both companies. The acquisition of Motorola Mobility, a dedicated Android partner, will enable Google to supercharge the Android ecosystem and will enhance competition in mobile computing. Motorola Mobility will remain a licensee of Android and Android will remain open. Google will run Motorola Mobility as a separate business. The transaction is expected to close by the end of 2011 or early 2012.