Google Sells Motorola Home Set-top Box Unit
December 20 , 2012
On Wednesday afternoon, the cable infrastructure company Arris Group announced that it had agreed to buy Google’s Motorola Home business for $2.35 billion in cash and in stock. Industry watchers had long expected Google to sell off the business which had been acquired, in May 2012, as part of acquisition deal of Motorola Mobility for $12.5 billion. Motorola Home is one of the largest producers of set-top boxes in the world. Google is to get from this deal $2.05 billion cash and about $300 million worth Arris shares; and thus the Internet giant is set to acquire a 15.7% stake in the company. With the announcement of the deal, Arris stock jumped $2.45 (16.9%) to $16.99.