Motorola Mobilty shareholders okay acquisition by Google

Shareholders of Motorola Mobility Holdings have approved the $12.5 billion acquisition of the company by the internet giant Google.

Motorola Mobility Chairman and CEO Sanjay Jha said in a statement that the transaction was supported by more than 99% of the total number of voted shares during the voting on the proposed merger with Google.

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

In August, Google said it will buy Motorola Mobility for $12.5 billion -- making it the biggest ever takeover by the internet giant so far.

Motorola Mobility's offerings include smartphones, tablets and wireless accessories, among others.

Once a leading player, Motorola's share in the handset market has taken a beating in recent times, especially with stiff competition from players such as Apple and HTC.

The deal will boost Google's competitive edge in the mobile computing arena as well as give it access to Motorola's range of Android operating system-based offerings.

Both Google and Motorola have a good presence in India.

Motorola expects the merger to close in early 2012, subject to various conditions and necessary approvals.