Printed from http://www.electronista.com

ARRIS shells out $2.35 billion to Google for Motorola Home

updated 07:23 pm EST, Wed December 19, 2012

Google gains 15.7 percent stake in ARRIS in already-approved sale

Communications technology company ARRIS Group and Google today jointly announced that ARRIS and Google subsidiary Motorola Mobility have entered into an agreement under which ARRIS will acquire the Motorola Home business from Motorola Mobility for $2.35 billion in a combined cash and stock transaction. The sale has already been approved by the boards of directors of both companies.

The transaction is expected to close by the second quarter of 2013, subject to federal regulatory approvals and closing conditions. Google is retaining the mobile business and patent library it acquired in the purchase of Motorola Mobility. Under the terms of the agreement, Google will receive $2.05 billion in cash and approximately $300 million in newly issued ARRIS shares, subject to adjustments provided for in the agreement, representing an approximately 15.7 percent ownership interest in ARRIS.

The transaction will increase ARRIS' patent portfolio and provide a license to a wide array of Motorola Mobility patents. The combined entity will offer a wide array of products and solutions and will have an expanded customer base encompassing broadband content and service providers.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Sound Blaster Roar Bluetooth speaker

There could very well be a new king of the hill for Bluetooth speakers, with Sound Blaster's recent entry into the marketplace. Bringi ...

Kenu Airframe Plus

Simple, stylish and effective, the Kenu Airframe + portable car mount is the latest addition to Kenu's lineup. Released earlier this y ...

Plantronics Rig Surround 7.1 headset

Trying to capture the true soundscape of video games can be a daunting task. Looking to surround-sound home theater options, users hav ...

Sponsor

toggle

Most Commented

 
toggle

Popular News