Google rocked the mobile world on Monday, August 15, with the news that it will buy Motorola Mobility for $12.5 billion, marking a 63-percent premium for the handset manufacturer. It’s a move that ushers Google into the exclusive club of companies that control both the hardware and software elements of their smartphone offerings, and it will enable Google to design handsets that are more closely integrated with Android. However, the deal doesn’t come without its risks, and it remains to be seen just how it will affect other handset makers, competition from Microsoft and the crucial patent issues currently surrounding Google. Companies mentioned in this report include Apple, Research In Motion and Samsung. For a full list of companies, and to read the full report, sign up for a free trial. Read more at GigaOM Pro »