Google and Motorola stockholders vote 99% in favour of $12.5 billion buyout

It's been a long time coming, but the final - and some might say inevitable seal has been placed on Google's move for Motorola Mobility, with shareholders at the manufacturer voting in favour of the deal.

The decision was made at a meeting between those holding 74 percent of the company's outstanding stock, with 99 percent giving the acquisition their approval.

As a result, Google will now acquire the company for a total of $12.5 billion.

Buy me a river

"We are pleased and gratified by the strong support we have received from our stockholders, with more than 99 percent of the voting shares voting in support of the transaction," Motorola Mobility chairman and CEO Sanjay Jha.

"We look forward to working with Google to realize the significant value this combination will bring to our stockholders and all the new opportunities it will provide our dedicated employees, customers, and partners."

Some closing conditions between the two firms remains, with the merger expected to be completed in full during Q1 2012.

The move has raised eyebrows every since it was announced, with some commentators speculating it threatens to undermine the open nature of the Android platform, despite Google's claim it plans torun the business "at arms length".

Indeed, documents made public during a court case with Oracle detailed plans by Google to give Motorola preferential status on the OS.

[source: PR Newswire]