|This Slide: #98 of 100|
Slide #98. ARRIS Group, Inc. — Motorola Home business from Motorola Mobility
ARRIS Group, Inc. (ARRS)
Motorola Home business from Motorola Mobility
ARRIS Group, Inc. (NASDAQ: ARRS), a global innovator in broadband media technology, and Google Inc. (NASDAQ: GOOG) today jointly announced 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. The acquisition will be on a cash-free, debt-free basis and is expected to be significantly accretive to ARRIS' Non-GAAP earnings starting in the first full year after closing. 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.
ARRIS International is engaged in the entertainment, communications, and networking technology. Co. operates in three business segments: Customer Premises Equipment (CPE), Network and Cloud and Enterprise Networks. Co. enables service providers, including cable, telecom, digital broadcast satellite operators and media programmers, to deliver media, voice, and Internet Protocol data services to their subscribers. Co. also develops a set-tops, digital video and Internet Protocol Television distribution systems, broadband access infrastructure platforms, and broadband data and voice CPE, which Co. also sells directly to consumers through retail channels.
Open the ARRS Page at The Online Investor »
Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
powered by Xignite