|HP turned on a fire hose of announcements this week.|
Google ( GOOG) kicked off the week with its biggest-ever acquisition, announcing a $12.5 billion deal for Motorola Mobility ( MMI) on Monday. The purchase should give Google a big leg up in the booming smartphone market, where its Android operating system is locked in a fierce battle with Apple's ( AAPL) iOS. As part of the deal Google not only gets its hands on a leading player in the smartphone industry, but a trove of 17,000 technology patents related mostly to the wireless industry. Google chief Larry Page described the deal, which is expected to close in late 2011 or early 2012, as good for all Android players. "Motorola Mobility's total commitment to Android has created a natural fit for our two companies. Together, we will create amazing user experiences that supercharge the entire Android ecosystem," Page said in a press release Monday. Amidst a broader selloff in tech stocks, Google shares closed down $13.96, or 2.77%, at $490.92 on Friday. Motorola Mobility's stock was up a penny, or 0.03%, at $37.86.