Google Sells Motorola Set-Top Business
December 20, 2012 by Trey Thoelcke
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
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