Google wants in. After a string of not so stellar attempts at strengthening its mobile device unit, Google announced today that it will pay a 63% premium over the Motorola Mobility Holding’s closing price on Friday. The cellphone unit that was separated from Motorola will be acquired for $40 per share, or $12.5 Billion.
The offer is by a long shot Google’s biggest ever. It comes on the heels of several moves made to make Google a stronger competitor to Apple. Motorola makes phones that use Google’s Android software. The acquisition will make Google a cell phone maker as well.
Through Motorola Mobility Holdings, Google will acquire more than 17,000 patents. Last month, Google lost out on the bidding for about 6,000 patents Nortel Networks, the Canadian telecommunications maker that filed for bankruptcy in 2008. Apple and Microsoft had led the team of tech companies that won the $4.5 Billion purchase.
Here are the hedge funds that are making a bundle on this move:
1. Carl Icahn tops off this list, making a whopping $375 Million so far today.
2. Jonathon Jacobson’s Highfields Capital Management makes a decent $122 Million on the move.
3. Richard Perry’s Perry Capital gets about $33.5 Million.
4. Jeffrey Tannenbaum’s Fir Tree rakes in nearly $15 Million.
5. D. E. Shaw sees almost $13 Million.
6. Clint Carlson’s Carlson Capital makes about $10 Million
7. Stuart Peterson’s Artis Capital Management gets about $7 Million.