MOUNTAIN VIEW, Calif. & LIBERTYVILLE, Ill., Aug 15, 2011 (BUSINESS WIRE) -- Google Inc. /quotes/zigman/93888 GOOG -2.88% and Motorola Mobility Holdings, Inc. /quotes/zigman/3019788 MMI +56.29% today announced that they have entered into a definitive agreement under which Google will acquire Motorola Mobility for $40.00 per share in cash, or a total of about $12.5 billion, a premium of 63% to the closing price of Motorola Mobility shares on Friday, August 12, 2011. The transaction was unanimously approved by the boards of directors of both companies.

HT: Dave Winer