Google Sells Motorola Home Broadband Unit to Arris for $2.35B
2012-12-20 10:08 by Daniela
Cable broadband equipment supplier Arris Group will purchase the set-top box division of Google's Motorola unit for $2.35 billion in cash and stock, after winning approval from both its own board of directors and the directors of Google. Arris said that the deal will see a boost to the company's patent portfolio and will give access to Arris to licence Motorola Mobility patents that are now owned by Google. Arris CEO Bob Stanzione said that the deal will see Arris gain significant expertise in video delivery. "We share a similar vision and strategy with Arris for the industry's migration to IP. The combination of our solutions, expert technologists and roadmaps promises to transform how service providers deliver the smart, simple connected home to consumers throughout the world," said Marwan Fawaz, executive vice president of Motorola Mobility who leads Motorola Home. "Acquiring Motorola Home builds on ARRIS' rich history, creating a global player with significant footprint, revenue, and cash flow. It also 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 capitalise on and manage the evolution toward multi- screen home entertainment," he said in a statement. Read more -here-
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