Arris Agrees to Buy Motorola Home Business Division for $2.3B
December 20, 2012 9:40 AM
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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.
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I know google tv is pretty much a bust but...
12/20/2012 12:22:54 PM
I was hoping Google tv would show yup on Motorola cable boxes and the hardware would have been upgraded, faster cpu better graphics etc. I haven't had a motorola cable box in years but it sucked compared to dish network boxes. I now use WMC as my dvr with a cable card tuner.
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