Google sells Motorola Mobility Home, the set-top box division for $2.35 billion to Arris
There were two big bidders - British Pace and U.S. Arris. And now, Google announced it is selling Motorola Mobility Home to Arris for $2.35 billion in both cash and stock. Arris will pay Google $2.05 billion in cash and the remaining $300 million in stock.
The boards of the two companies have already approved the deal and it is expected to close in the second quarter of 2013, when and if it passes all necessary regulation. The share purchase will also give Google a 15.7% ownership in Arris.
And for Arris, it will also mean acquiring “a generous patent portfolio.”
source: Google via Tech Crunch