After a scant 29 months, the love affair between Google and Motorola has ended. On August 15, 2011, Google announced its intent to acquire Motorola Mobility for $12.5 billion. Today, itannounced its intent to sell it to Lenovo for $2.91 billion. Yes, Google wanted Moto out so badly it took a $7+ billion hit to be free.

As a part of the separation, Google will retain all of Motorola’s stuff (it’s patents) and Lenovo has promised to take on Motorola’s name when they wed.

“The smartphone market is super competitive, and to thrive it helps to be all-in when it comes to making mobile devices,” said Google CEO Larry Page. “It’s why we believe that Motorola will be better served by Lenovo – which has a rapidly growing smartphone business and is the largest (and fastest-growing) PC manufacturer in the world. This move will enable Google to devote our energy to driving innovation across the Android ecosystem, for the benefit of smartphone users everywhere.”