Bangalore: This has been a week of mergers especially for Google which just signed a cross licensing deal with Samsung. It was speculated that Google will give competition for Samsung in the hardware (mobile) market in spite of signing cross licensing deal through its subsidiary Motorola Mobility. However Google has drawn curtains on the issue by selling off its mobile division to Lenovo. The Chinese manufacturer had previously acquired IBM’s industry-standard server business for $2.3bn.

In a $2.91bn deal which is partly in cash, stock and deferred payments leaves Google with a 5 percent stake in Lenovo. It can be remembered that Google had brought hardware division from Motorola in its highest acquisition costing $12.5bn, The Times of India reports. The difference of amount between the buying and selling off the mobile division is visibly substantial. The Motorola buy out decision did not go down too well with Google’s investors and it is a setback for its board of directors and co-founder, Larry Page to retreat after just a couple of years.