Tuesday, January 15, 2013

GOOGLE TO SELL MOTOROLA HOME TO ARRIS FOR $2.35 BILLION

Google Inc. agreed to sell its Motorola Home business to Arris Group Inc. (ARRS) for $2.35 billion, finding a buyer for a division that sells television set-top boxes while it focuses on expanding in smart phones. Arris, a cable-equipment maker, will pay about $2.05 billion in cash and about $300 million in newly issued shares that will give Google a stake of about 15.7 percent.

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