On August 15, 2011, American technology company Google announced that it would acquire Motorola Mobility for $12.5 billion, pending regulatory approval. Critics viewed Google as being a white knight, since Motorola had recently had a fifth straight quarter of losses. Google planned to operate Motorola as an independent company. In a post on the company's blog, Google CEO and co-founder Larry Page revealed that Google's acquisition of Motorola Mobility was a strategic move to strengthen Google's patent portfolio. At the time, the company had 17,000 patents, with 7,500 patents pending. The expanded portfolio was to defend the viability of its Android operating system, which had been the subject of numerous patent infringement lawsuits between device vendors and other companies such as Apple, Microsoft and Oracle. November 17, 2011, Motorola announced that its shareholders voted in favor of the company's acquisition by Google for $12.5 billion. The deal received regulatory approval from the United States Department of Justice and the European Union on February 13, 2012. The deal received subsequent approval from Chinese authorities and was completed on May 22, 2012. Alongside the completion of the acquisition, Motorola Mobility's CEO Sanjay Jha was replaced by Dennis Woodside, a former Senior Vice President at Google.