Schmidt said he saw "a good chance" of the deal passing muster with the Committee on Foreign Investment in United States, or CFIUS, which monitors acquisitions by overseas corporations.

Speaking at a dinner organized by the Cato Institute think tank, Schmidt said Lenovo's experience buying IBM's ailing personal computer division in 2005 would stand it in good stead as it seeks the green light to acquire the Motorola business.

"There's a good chance of it being OK," Schmidt said. “We would not have done the transaction if we thought it would be in trouble,” he added

Lenovo last week said that it would acquire the Motorola handset business, along with some 2,000 patents, for USD 2.91 billion. This came days after an announcement that the company would purchase IBM's low-end server unit for USD 2.3 billion.

The deals will be reviewed by CFIUS to ensure they do not threaten national security.


Latest News  from Business News Desk