Google and Motorola have announced a definitive agrement for the purchase of Motorola Mobility Holdings, Inc. (NYSE: MMI) by Google Inc. (NASDAQ: GOOG) for the sum of approximately $12.5 billion USD. Yes, folks, that’s billion with a “b”. See the official press release here. This will undoubtedly yield some interesting developments in the near future, placing into question Google’s ability to manage a global hardware company and how it will impact Google’s other customers and allies that manufacture Android based smart phones who will now be in direct competition with Google’s Motorola phones.