Google offloads Moto STB business
Web giant Google has offloaded the Motorola Home business, which primarily makes set top boxes (STBs), to US firm Arris, in which it will also take an ownership stake.
December 21, 2012
Web giant Google has offloaded the Motorola Home business, which primarily makes set top boxes (STBs), to US firm Arris, in which it will also take an ownership stake.
Arris is to acquire the Motorola Home business from Google-owned Motorola Mobility, for $2.35bn in a cash-and-stock transaction. Under the terms of the agreement, Google will receive $2.05bn in cash and approximately $300m in newly issued Arris shares, representing an approximately 15.7 per cent ownership of the company.
The deal supports Arris’s next-generation consumer video products and services offering as well as expanding its patent portfolio and providing a license to a wide array of Motorola Mobility patents.