Google and ARRIS Group announced that RRIS and Motorola Mobility - a
subsidiary of Google, signed a definitive agreement whereby ARRIS will
acquire Motorola Home business from Motorola Mobility for $ 2.35 billion
in cash and stock.
The transaction was approved by the Board of Directors of both companies. Under the agreement, after the closing of the transaction, Google will receive $ 2.05 billion in cash and approximately $ 300 million in shares of the new issue ARRIS, subject to certain adjustments as provided in the agreement, representing approximately 15.7% of the shares in ARRIS after adjusting and closing accounts.
The transaction is expected to close in the second quarter of 2013, according to the usual conditions for reconciliation and closure.
The transaction was approved by the Board of Directors of both companies. Under the agreement, after the closing of the transaction, Google will receive $ 2.05 billion in cash and approximately $ 300 million in shares of the new issue ARRIS, subject to certain adjustments as provided in the agreement, representing approximately 15.7% of the shares in ARRIS after adjusting and closing accounts.
The transaction is expected to close in the second quarter of 2013, according to the usual conditions for reconciliation and closure.
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