Google sells its Motorola Mobility to Lenovo

Google announced it reached an agreement with Lenovo to sell the Motorola mobility for $3 billion. Chinese company Lenovo paid Google about a sum of $2.9 billion for the smartphone business with $1.4 billion being paid at the closing of the deal. 

The deal was primary due to the fact that google which only bought Motorola in 2011 struggled with making headway with the smartphone after bailing it out from liquidation. Google purchased Motorola earlier with a sum of $12.5 billion which has been in support of android operating system. Larry Page, CEO of Google says “this is an important move for android”.

CHINA: Nestle opens food safety facility in Beijing

Nestle has opened a food safety research centre in Beijing as part of its drive to support the Chinese government and "strengthen" food safety efforts in the country.

The Nestle Food Safety Institute will work "closely" with Chinese authorities to help provide a "scientific foundation" for policy and standards, Nestle said. Support will include early management of food safety issues and collaboration with local universities, research institutes and government agencies. Food safety and consumer trust are key priorities for Nestle. The new Food Safety Institute will help meet China's growing demand for healthy and safe food, one of the top three concerns among Chinese consumers," Nestle said.It will also promote scientific communication and help run food safety training programmes. 

'Gears of War' franchise rights snagged by Microsoft

Microsoft has bought the rights to the “Gears of War” franchise from epic games making “Gears of War” no longer a Cary-based franchise. The deal gives Microsoft rights to both past and future games in the series and Microsoft has handed development duties of “Gears of War” franchise to Black Tusk Studios in Vancouver, BC.

One of the main reason for Microsoft to purchase the “Gears of War” franchise because they believe that this franchise has a very strong, passionate and valued fan base on Xbox.  By acquiring this franchise, Microsoft Studios will continue to offer their committed fans more of their favourite games and entertainment experiences from the “Gears of War” universe.

Spotify acquires Echo Nest

  

                                  

Spotify announces that it made a deal to acquire music data firm The Echo Nest for an unknown amount. Echo Nest is a music service that recommends music, audio fingerprinting and also provides other services. They (Echo Nest) have a database of about 30 million songs which was put through together by a mixture of techniques. Swedish firm Spotify says this technology will help the firm drive music discovery and also build music experience. The service is expected to remain free and open for external developers and the main priority is to attain success for both companies. 

Whitecap buys Imperial oil and gas assets for $855M

In the latest flurries of Acquisitions and financing in the sector , Whitecap resources Inc. said on Monday that it is buying Western Canadian oil and Gas properties from Imperial oil ltd. for $855 million.

A big reason for the massive increase is a brighter outlook for Canadian oil and natural gas prices following the unusual frigid winter, which prompted a surge in heating demand.Whitecap,one of the new breed of small energy producers set up to provide investors with stock- price gains and dividends,issued $500 million in subscription receipts to help fund its acquisition.