Google sells Motorola Mobility Home, the set-top box division for $2.35 billion to Arris
Google bought Motorola Mobility for $12.5 billion in what was probably the biggest tech deal of 2012, but while it was clear that the search giant is looking to strengthen its wireless patterns and fortify Android, it bought more than just the patents. Motorola Mobility’s Home set-top box division also came into Google’s possession and it was clear that the company wanted to get rid of it as soon as possible.
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.
source: Google via Tech Crunch
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
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