Google Inc (GOOG) Receives DOJ Thumbs Up of Motorola Acquisition
Google Inc (NASDAQ:GOOG) stock climbed $6.29 to $612.20 in trading action Monday following the DOJ’s acquisition approval of Motorola Mobility.
The Department of Justice’s Antitrust Division issued the following statement after announcing the closing of its investigations into Google’s (NASDAQ:GOOG) acquisition of Motorola Mobility Holdings (NYSE:MMI), the acquisitions by Apple (NASDAQ:AAPL), Microsoft Corp. (NASDAQ:MSFT) and Research in Motion Ltd. (NASDAQ:RIMM) of certain Nortel Networks Corporation patents, and the acquisition by Apple of certain Novell Inc. patents: “After a thorough review of the proposed transactions, the Antitrust Division has determined that each acquisition is unlikely to substantially lessen competition and has closed these three investigations.
In all of the transactions, the division conducted an in-depth analysis into the potential ability and incentives of the acquiring firms to use the patents they proposed acquiring to foreclose competitors. In particular, the division focused on standard essential patents that Motorola Mobility and Nortel had committed to license to industry participants through their participation in standard-setting organizations. The division’s investigations focused on whether the acquiring firms could use these patents to raise rivals’ costs or foreclose competition. The division concluded that the specific transactions at issue are not likely to significantly change existing market dynamics.”
Meanwhile, Google (NASDAQ:GOOG) will launch an update for YouTube on Google TV over the next few days, the company announced on a blog yesterday. The update will make it “faster and easier to find great content,” and also add YouTube channel pages, the company said.
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