Being a little old school, to me, Motorola is not a mobile phone company. I remember visiting their Austin fab when I was doing service calls on their water instrumentation. They were proud of the fact the instrument they purchased was running on a Motorola 68HC11. Some of you may now be able to guess how old school I really am.
That fab if it is even still running, is part of some other company for sure. They made good stuff.
The best comentary on the purchase is as usual from Mr. Cringley (http://www.cringely.com/2011/08/motogoogle/).
The blogs are buzzing, especially at EE Times (http://www.eetimes.com/electronics-news/4218787/Google-to-buy-Motorola-Mobility-for--12-5B). Even Amilia Dalton is talking about the Google buying spree. (http://www.eejournal.com/archives/articles/20110819_fishfry/).
What does it mean to an embedded developer. Well, there will definitely be new Android phones from Google/Motorola. If you are a phone builder that is bad news. I am not saying they would put in features that are not released. It is more like the Microsoft way. When you see the tools, they have had them for 6 months. It makes it hard to keep up.
Google can defend Android. That fact alone is good for the embedded ecosystem. 
Google would not have purchased without at least three reasons. Cringley points to a couple. I am waiting for the third. If they are trying to do a me too phone behind Apple, I am afraid they will loose. A me too strategy never wins. Or will they just join into the phone law suite wars (http://electronicdesign.com/Blogs/BillWongsBlog/tabid/737/entryid/195/Default.aspx



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