Android smartphones and their users can thank Google for splashing out $12.5 billion to buy Motorola Mobility along with all the patents they hold. The purchase will be Google's largest.
Google makes its biggest acquisition yet, spending $12.5 billion on Motorola Mobility. But did Google want the phone manufacturer or its patents?
Patents buy is part of arms race for intellectual property. Google's purchase will help defend itself against patents litigation.
Patents held by the bankrupt Canadian company, Nortel, have been snatched up by a consortium for $4.5 billion in cash. The consortium bid five times more than Google for the patents.
Nortel would give Google all its patents, if Google wins the bankruptcy auction for Nortel.
Dow rises 23 points to close at highest level in 34 months. But stocks on Nasdaq edge down.
Losses on mortgage debt, followed by recession woes such as corporate bankruptcies and rising defaults on credit cards, delivered a one-two punch.