Google chief Larry Page announced that the company's $12.5 billion acquisition of Motorola Mobility is finally official. Sanjay Jha has stepped down as Motorola CEO, and has handed the reins to Google's Dennis Woodside.
The Motorola buy was made presumably for its intellectual property, which amounts to 17,000 patents. There are rumors that the hardware business will be sold, perhaps to China's Huawei.
Google hasn't made any definitive statements about its plans. Google is reportedly partnering with multiple hardware makers to release several Nexus-branded devices each year. However, owning Motorola makes all those alleged plans a bit hazy. [Google]