Advertisement

HindustanTimes Sun,20 Apr 2014

Google sells Motorola Mobility Home for $2.4 bn

AFP  San Francisco, December 20, 2012
First Published: 21:22 IST(20/12/2012) | Last Updated: 21:24 IST(20/12/2012)

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 $2.4 billion.

Advertisement

“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 Bob Stanzione, chief executive, ARRIS.

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.

The deal also comes with a “generous patent portfolio” and technology licenses between the companies, as per ARRIS executives.

Key ARRIS product areas include in-home boxes for routing Internet data, cable video, online telephone calls and other services.

Advertisement
more from Business

700 trainees opt for exit plan at Nokia’s Chennai plant

Finnish handset maker Nokia, struggling to shepherd its Chennai plant into its agreement to be bought by US software giant Microsoft amid tax disputes in India, has got some success with 736 of its trainees accepting the voluntary separation scheme.
markets
Advertisement
Most Popular
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved