As the photo shows, Motorola has been around the mobile communication business a while. Their patent trove should give pause to anyone wanting to challenge Google.
Google pledges to run Motorola as a separate business. They are trying to balance their need to own a company like Motorola without ticking off the other manufacturers that support Android.
Hopefully, they will use Motorola though to come out with some awesome phones and tablets to serve as reference designs for other manufacturers, sort of what they have done with the Nexus phones produced to their specs by various manufacturers.