Now we have two big hardware/software companies in this space. Three if you count HP. Main reason given was to acquire M's mobile patents to defend Android. Claim is the Motorola Mobility will remain a separate entity and Android will remain open.
Interesting to see how this plays out in the Apple vs. Google war, and in the Android world itself. Hard not to see how Motorola phones wouldn't have a competitive advantage down the road.
Looks like Carl Icahn did OK on the deal.