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Friday, December 21, 2012

Google to sell non-mobile Motorola Home business to Arris

Communications technology company Arris Group has arranged a deal with Google to buy the Motorola Home business from Motorola Mobility for $2.05 billion (£1.27 billion) in cash and around $300 million of Arris shares. The mobile-focussed part of Motorola Mobility will remain with Google.

Arris is expected to incorporate expertise from Motorola Home into its video and broadband products and services.

Bob Stanzione, Chairman and CEO of Arris, said “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. 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 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 capitalize on and manage the evolution toward multi-screen home entertainment. We look forward to working with the Motorola Home team as we integrate their complementary product portfolio and engineering expertise to accelerate best-in-class end-to-end solutions to a broader customer base and increase value for shareholders.”

The transaction is expected to be completed by summer 2013.

Author: The Fonecast
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Categories: Handsets and manufacturers, NewsNumber of views: 5825

Tags: motorola google

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