Walmart buys Motorola for $2.5 billion

Posted by admin

The mobile-phone company is buying Motorola Mobility for $1.9 billion, the Wall Street Journal reported Friday.

The deal comes after the company’s $2 billion acquisition of the maker of the Motorola Razr smartphone earlier this year.

The Wall Street Daily reported the deal, which includes $750 million in cash and $300 million in stock, on Friday.

In a statement, Wal-Mart CEO Doug McMillon said, “We are thrilled to join forces with Motorola and continue to be the leading retailer of affordable, quality mobile devices.

We are grateful for the extraordinary leadership of both the new and old Motorola Mobility leadership team, and look forward to working with them to deliver the best products and experiences to our customers.”