Google has announced that they have sold off Motorola’s set top box division in a deal worth $2.35 billion in cash and stock, and Motorola Home has been purchased by the Arris Group.
Google will get about $2.05 billion in cash in the deal plus around $300 million in stock, which gives Google around a 15.7 share of the company.
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. The transaction will increase ARRIS’ patent portfolio and provide a license to a wide array of Motorola Mobility patents.
As well as acquiring Motorola Home from Google, Arris Group will also have access to license Motorola mobility patents.
Source The Verge
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