Arris Agrees to Buy Motorola Home Business Division for $2.3B
December 20, 2012 9:40 AM
comment(s) - last by
The deal includes cash and stock
Rumors started surfacing early this month that Google was looking to
shed the Motorola Home business division
after its purchase of Motorola Mobility. Google's goal was to help focus its Motorola Mobility holdings on smartphones and tablets. Motorola announced this week that it has now entered into an agreement to sell off the Home business to a company called
Arris is paying Google $2.35 billion in cash and stock and the transaction has been approved by the Board of Directors for both companies. The acquisition is on a cash-free, debt-free basis.
The agreement will see Google receiving $2.05 billion in cash and approximately $300 million in newly issued Arris stock shares. The deal is subject to certain adjustments provided for in the agreement and will result in Google owning 15.7% interest in Arris after the deal closes.
Arris says that the purchase of Motorola Home will give it a global presence with over 500 customers in 70 countries. The company also plans to offer a wide array of products and solutions encompassing the full spectrum of broadband content and service providers.
This article is over a month old, voting and posting comments is disabled
12/20/2012 10:06:33 AM
They're a company that provides telecoms hardware to cable companies. Last year they had just over a billion dollars in revenue; and are on track for about $1.3bn this year.
Buying Motorola's modem division will help them diversify their customer base. It was reported elsewhere that currently their two biggest customers are responsible for half of their revenue; after the deal goes through it will take their 5 biggest customers to reach the same 50% threshold.
12/20/2012 2:01:36 PM
Yes, I too can Google.
I just couldn't resist the song reference.
“Then they pop up and say ‘Hello, surprise! Give us your money or we will shut you down!' Screw them. Seriously, screw them. You can quote me on that.” -- Newegg Chief Legal Officer Lee Cheng referencing patent trolls
Google Looks to Shave Off Motorola's Set-Top Box Division, Pocket $1.5-$2.5B USD
December 7, 2012, 9:59 AM
LinkNYC Terminals to Blanket New York City With Free WiFi, Free Calls, and Ads
November 17, 2014, 6:50 PM
Microsoft is Open-Sourcing Most of .NET, Adding OS X and Linux Support
November 12, 2014, 8:27 PM
Home Depot Lost 53 Million Emails, Blames Windows, Buys Execs New Macs
November 9, 2014, 5:00 PM
Former NSA Lawyer: If Google, Apple Encrypt User Data, They’ll Wither on the Vine Like Blackberry
November 6, 2014, 12:15 PM
Report: AT&T Eyeing $40B DirecTV Purchase
May 1, 2014, 8:00 AM
WebOS Class Action Settlement Costs HP $57 Million
April 1, 2014, 10:22 AM
Most Popular Articles
Wal-Mart: Miss Thanksgiving, Get Xbox One + Master Chief Collection for $299
November 17, 2014, 9:40 PM
Nokia Lumia 635 LTE Windows Phone is Only $40 at Best Buy on Black Friday
November 18, 2014, 11:59 AM
Sweden Mulls Labelling "Sexist" Video Games in the Wake of Gamergate
November 17, 2014, 2:00 PM
It's Official: Twitter is Profitable "Junk"
November 16, 2014, 10:45 PM
Austrian Pilots Call Surface 3 Pro Flight Bag a "Dream Come True"
November 14, 2014, 2:00 PM
Latest Blog Posts
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information