Google Inc. (NASDAQ: GOOG) dumped the part of Motorola Mobility it did not want when it bought the company. Motorola’s cable set-top business may still make money, but the older boxes have been pushed out of living rooms by Netflix Inc. (NASDAQ: NFLX), Apple Inc. (NASDAQ: AAPL) TV and a series of other new age TV electronics. According to Bloomberg:
Source: Thinkstock
Google Inc. agreed to sell its Motorola Home business to Arris Group Inc. for $2.35 billion, finding a buyer for a division that sells television set-top boxes while it focuses on expanding in smartphones.
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, the companies said yesterday in a statement. Enlarge image Google Sells Motorola Home to Arris for $2.35 Billion
Google acquired its Motorola Home Business division through the $12.5 billion purchase of Motorola Mobility Holdings Inc. in May.
Google, which acquired the division through the $12.5 billion purchase of Motorola Mobility Holdings Inc. in May, received multiple offers on Dec. 7, a person with knowledge of the matter said earlier this month.
Douglas A. McIntyre
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Orare you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
