Chinese computer company Lenovo has officially closed its acquisition of smartphone maker Motorola Mobility from Google for $2.91 billion.

The payment is split: $660 million in cash, $750 million in new Lenovo stock, and $1.5 billion in a three-year promissory note. Google sold Motorola Mobility for significantly less than it bought it, at $12.5 billion, but will keep the large patent portfolio.

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Google had an odd relationship with Motorola Mobility. After Google's ex-CEO Eric Schmidt essentially declared they would not work with them, it made the partnership between the software giant and mobile phone maker even more distant than it had been before.

It took Motorola until 2014, when they were already officially sold to Lenovo, to partner with Google to make the Nexus 6. It is reported that Google invested $500,000 in the marketing campaign for the original Moto X and helped with the software - but this has never been confirmed by Google or Motorola.

The conflict of interest between Google and Motorola might live on as one of the worst decisions by Google in terms of acquisitions. It is also their biggest acquisition ever, over $9 billion more expensive than the second biggest acquisition for DoubleClick for $3.1 billion.

Lenovo will utilize Motorola Mobility much more freely, as they prepare to enter the U.S. market in full force. Lenovo can use their cheaper factories in China to lower the cost of making the Moto X and will be able to provide Motorola with more advertising money.

In the meantime, Lenovo is also looking to re-enter the Chinese market under a different brand, potentially Motorola, to compete with Xiaomi, Oppo and other upstarts.

TagsMotorola Mobility, smartphone manufacturers