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When Google acquired Motorola in 2012 for around $12.5 billion I had high hopes for the future of the company. The last thing I thought would happen would be Google selling Motorola three years later, but alas it seems that that is the case. Lenovo have put a bid in for Motorola Mobility, a cool $3 billion bid, but what does this mean for the future of the company?

Well first, Google will be keeping the 17,000-strong patent portfolio, along with 7,500 filed patents leaving Lenovo over 2,000 patent assets, as well as the Motorola Mobility brand and trademark portfolio. It’s too early to tell whether Lenovo will be using the company to market Lenovo brand smartphones, or whether Lenovo will be the power behind future Motorola releases.

Since Google acquired the company we’ve seen two fantastic handsets come out of Motorola, the Moto G a fairly decent spec, budget handset, and the Moto X, a high-end handset with some cutting edge technologies, but ownership of Motorola was just losing money for Google so a sale seems like the best fit for both parties.

Both Lenovo and Google have confirmed the acquisition as soon as the deal is approved by both the U.S. and Chinese governments.

“The acquisition of such an iconic brand, innovative product portfolio and incredibly talented global team will immediately make Lenovo a strong global competitor in smartphones. We will immediately have the opportunity to become a strong global player in the fast-growing mobile space,” said Yang Yuanqing, chairman and CEO of Lenovo.

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