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.
"Game reviewers fought each other to write the most glowing coverage possible for the powerhouse Sony, MS systems. Reviewers flipped coins to see who would review the Nintendo Wii. The losers got stuck with the job." -- Andy Marken
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