Saturday, October 21, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
DVDFab Debuts 4K Ultra HD Copy Software
Razer Unveils New Broadcasting Camera and Microphone
Microsoft's Cortana Gets Into Smart Speakers Market With Harman Kardon Invoke
Samsung, LG Electronics are Lagging in Autonomous Car Race
TSMC Raises Forecasts for 2017 Due to 10nm Demand, Outlines 7 and 5nm Roadmap
Samsung Said to Have Placed Huge EUV Equipment Order From ASML
Samsung Launches the Ruggedized Galaxy Tab Active2 for Business
Intel Capital Announces $60 million of New Investments in Data-Focused Startups
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > ARRIS T...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, December 20, 2012
ARRIS To Buy Google's Motorola Home Business For $2.35 Billion


Google is selling Motorola Mobility's TV set-top business for $2.35 billion to ARRIS Group, Inc., a provider of broadband media technology.

ARRIS and Google jointly announced on Wednesday that ARRIS and Motorola Mobility, a Google subsidiary, have entered into a definitive agreement under which ARRIS will acquire the Motorola Home business from Motorola Mobility, for $2.35 billion in a cash-and-stock transaction approved by the Boards of Directors of both companies.

Under the terms of the agreement, upon closing of the transaction, Google will receive $2.05 billion in cash and approximately $300 million in newly issued ARRIS shares, subject to certain adjustments provided for in the agreement, representing an approximately 15.7% ownership interest in ARRIS post-closing.

Acquiring Motorola Home will enhance ARRIS?'ability to provide next-generation consumer video products and services, supporting a more comprehensive product offering while also accelerating its ability to deliver new products for broadband to a wide spectrum of customers. The transaction will also increase ARRIS' patent portfolio and provide a license to a wide array of Motorola Mobility patents.

"This transformational combination of two complementary businesses will create a leading end-to-end provider of today's video, data and voice products and tomorrow's next-generation IP-based broadband products," said Bob Stanzione, Chairman and CEO of ARRIS. "Ever-expanding consumer demand for bandwidth will continue to drive growth across cloud and network technologies we provide that enable innovative home entertainment products and services."

"Acquiring Motorola Home adds expertise in video and a larger presence in the home to our core strengths in voice and data, ensuring we are even better positioned to capitalize on and manage the evolution toward multi-screen home entertainment," Stanzione continued.

Together, ARRIS and Motorola Home will have a global presence with over 500 customers in 70 countries, more than tripling ARRIS pro forma combined revenue to approximately $4.7 billion for the trailing four quarter period ended September 30, 2012.

"Our Home business has been a vibrant part of Motorola Mobility's portfolio, innovating while delivering strong financial performance," said Dennis Woodside, Chief Executive Officer of Motorola Mobility, the Google subsidiary that is the parent of Motorola Home.

"The industry faces its biggest technology transformation, and together ARRIS and Motorola will be able to accelerate related innovations such as the introduction of the IP Connected Home environments that service providers need and that their consumers crave."

Motorola Home is a profitable business that generated revenues of $3.4 billion for the trailing four quarters ended September 30, 2012. The combination is expected to generate approximately $100 - $125 million in annual cost synergies.

The transaction is expected to close by the second quarter of 2013, subject to customary approvals and closing conditions.

Google's decision to jettison the set-top boxes comes seven months after the company took control of Motorola Mobility Holdings in a $12.4 billion purchase.


Previous
Next
LG Releases The Z360 Ultrabook In Korea        All News        LG To Showcase 3D Video Wall And 84-inch Ultra HD Multi-touch Signage At CES
Imagination Expected To Win MIPS Bid     General Computing News      New Kind of Magnetism Could Have Applications In New Memory Storage

Get RSS feed Easy Print E-Mail this Message

Related News
Google Offers Bug Bounty for Mobile Apps
Motorola Unveils Smart Speaker with Amazon Alexa For Moto Z Phones
Google Designed New Pixel Visual Core Chip Internally
Google's Advanced Protection Program Adds Security Layers to Gmail
Google's Home Mini Speakers Caught Recording Everything
Google Found Russia-backed ads on YouTube, Gmail
Google Clips AI-powered Camera and new Google Buds headphones with Google Assistant
The Google Pixel 2 and Updated Daydream View are here
Google Adds Home Mini and Max to the Google Home family
Google Changes Rules on Free News Stories, Announces Subscription Tools
Google Assistant is now on Android TV
Google Makes Changes to Shopping Search Tweaks to Avoid Huge EU Fine

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .