Lenovo is to buy Motorola from Google for $2.91 billion which will include more than 10,000 mobile communications patents according to a source speaking to China Daily. The deal is expected to be announced on Thursday in Beijing and Lenovo has refused to comment on the matter. While this may be a shock at first, we have to remember that Motorola Mobility has been losing money, a reported $248 million in the third quater of 2013 according to Google’s financial report. According to Reuters, Lenovo is being advised by Credit Suisse Group.
Update: Google has now confirmed the sale of Motorola to Lenovo in a press release.