Google now officially owns Motorola

It's a mobile phone company!

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Google is now the proud owner of Motorola as CEO Larry Page announces that the long-running deal has closed.

The deal, worth around $12.5 billion (about £8 billion), has been rumbling along since August 2011 and has finally got the seal of approval from all parties.

China was the last country to give the green light just days ago, with the caveat that Android must stay 'free and open'.

All your Motos are belong to Google

Writing on the official Google Blog, Page explained that Motorola CEO and early Android supporter Sanjay Jha has stepped down, with "long-time Googler" Dennis Woodside taking his place.

With that out of the way, it was time to wax lyrical about technology for a while:

"It's a well known fact that people tend to overestimate the impact technology will have in the short term, but underestimate its significance in the longer term," wrote Page.

"Many users coming online today may never use a desktop machine, and the impact of that transition will be profound - as will the ability to just tap and pay with your phone.

"That's why it's a great time to be in the mobile business, and why I'm confident Dennis and the team at Motorola will be creating the next generation of mobile devices that will improve lives for years to come."