This combination will enable ARRIS to transform how service and content providers deliver entertainment and communications.
ENGADGET: Arris closes deal to buy Motorola Home cable and internet biz from Google
As a result of these securities transactions, Google and Comcast each hold approximately 7.7% of ARRIS' currently outstanding shares.
ENGADGET: Arris closes deal to buy Motorola Home cable and internet biz from Google
The transaction will increase ARRIS' patent portfolio and provide a license to a wide array of Motorola Mobility patents.
ENGADGET: Google sells Motorola Home cable and internet box business to Arris for $2.35 billion
As previously announced, ARRIS will release first quarter 2013 financial results after the market close on Wednesday, April 24, 2013.
ENGADGET: Arris closes deal to buy Motorola Home cable and internet biz from Google
The analyst sees one considerable roadblock to an Arris bid: the pending patent infringement litigation against Motorola Mobility by TiVo.
Evercore Partners is acting as lead financial advisor and Troutman Sanders is acting as lead legal counsel to ARRIS on this transaction.
ENGADGET: Google sells Motorola Home cable and internet box business to Arris for $2.35 billion
"We congratulate ARRIS on the introduction of their new media gateway, " said Steve Reynolds , Senior Vice President, Premises Technology for Comcast.
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While Google does retain a share of equity in Arris Group as a result of this offering, it may come to regret this move.
FORBES: Selling Motorola's TV Group: a Strategic Mistake for Google?
The cash portion of the consideration was funded through syndicated debt financing and the sale by ARRIS of 10.6 million ARRIS shares to Comcast Corporation.
ENGADGET: Arris closes deal to buy Motorola Home cable and internet biz from Google
Arris said the cash portion of the deal will be funded through debt financing commitments from Bank of America Merrill Lynch and Royal Bank of Canada.
FORBES: Google To Sell Motorola Set-Top Box Unit To Arris For $2.35B
In 1997 he funded Cheng Wu, a top engineer at Arris, in part because Wu gave a sobering presentation on the character companies need to survive.
In a combination that would joint two companies in the cable television infrastructure sector, SeaChange is reportedly in talks to be acquired by Arris Group.
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Jefferies analyst James Kisner this morning takes a close look this morning at the potential acquisition of the business by the cable equipment maker Arris Group.
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.
ENGADGET: Google sells Motorola Home cable and internet box business to Arris for $2.35 billion
The XG5multi-screen video gateway, which is designed by ARRIS, a leading global communications technology company, allows any screen in the home to access high-quality live and on-demand entertainment.
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Additional information regarding these and other factors can be found in ARRIS' reports filed with the Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2012.
ENGADGET: Arris closes deal to buy Motorola Home cable and internet biz from Google
As of the end of 2012, Google said Motorola had 11, 113 employees, which didn't include the Motorola Home business, which makes television set-top boxes and was sold to Arris Group Inc.
Under the terms of the agreement, Comcast will purchase roughly 7.85 percent of Arris, and in the very same stroke, halve Google's stake in the company, which previously sat at 15.7 percent.
These statements include, among others, statements concerning future performance of ARRIS following the completion of the acquisition of the Motorola Home Business and ARRIS' ability to achieve the expected strategic benefits and synergies.
ENGADGET: Arris closes deal to buy Motorola Home cable and internet biz from Google
Forward-looking statements are necessarily subject to associated risks related to, among other things, the retention of employees of Motorola Home Business and the ability of ARRIS to successfully integrate Motorola Home's opportunities, technology, personnel and operations.
ENGADGET: Arris closes deal to buy Motorola Home cable and internet biz from Google
You may participate in this conference call by dialing (800) 299-7098 or (617) 801-9715 for international calls prior to the start of the call and providing the ARRIS Group, Inc. name, conference pass code 92735185, and Bob Puccini as the moderator.
ENGADGET: Google sells Motorola Home cable and internet box business to Arris for $2.35 billion
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 a comprehensive set of industry-leading new products for broadband to a wide spectrum of customers.
ENGADGET: Google sells Motorola Home cable and internet box business to Arris for $2.35 billion
Very similar to the tru2way multiroom box Intel demonstrated back at IDF in 2009, the Multi-Screen Video Gateway by Arris capitalizes on DLNA standards -- touted by the alliance earlier today -- to bring video to virtually any device in your home.
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