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Google sells Motorola Mobility Home for US$2.35b
SAN FRANCISCO: Google on Wednesday announced it is selling the Motorola Mobility Home unit to global communications technology company ARRIS in a cash and stock deal valued at $2.35 billion.
"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 ARRIS chief executive Bob Stanzione. ARRIS expected the acquisition of Motorola Home to enhance its ability to provide innovative products and services for delivering video to homes.
Internet and cable service providers Comcast and Time Warner were the two biggest ARRIS customers prior to the acquisition, which said the takeover will give the company a diverse, international customer base. The deal also comes with a "generous patent portfolio" and technology licenses between the companies, according to ARRIS executives. Key ARRIS product areas include in-home boxes for routing Internet data, cable video, online telephone calls and other services.
"Devices in the home are increasing," company executives said in a conference call with analysts. "There will always be a device in the home; it will look different, it will evolve, and we will always participate in that transition." ARRIS and Motorola Home together will have more than 500 customers in 70 countries.
(Channel News Asia.com)