Lenovo is buying Motorola Mobility from Google. This is the division within Google that the company purchased in 2011 for $12.5 billion. Motorola Mobility will go to Lenovo for $2.91 billion.
Of that $2.91 billion, $1.41 billion will be paid at the close of the deal. $660 million will be comprised of US cash and $750 million in Lenovo ordinary shares. The remaining $1.5 billion will be paid in the form of a three-year promissory note.
Google will maintain ownership of the vast majority of the Motorola Mobility patent portfolio. Lenovo will still receive 2,000 patent assets and the Motorola Mobility brand and trademark.