Comcast Buys 10.6 Million Shares In Arris
Last week Comcast acquired 10.6 million shares in the broadband provider Arris for $150 million. Arris is known for buying Motorola Home from Google for $2.35 billion in cash ($2.05 billion) and stock ($300 million). Comcast bought the 10.6 million in Arris shares on January 14th. The deal is subject to the closing of the Google deal. The Google and Comcast deal is expected to close in Q2. Google and Comcast will each own around 7.85% in Arris.
“This investment by one of our largest customers is a strong indication of customer support for the Motorola Home acquisition and its potential to accelerate innovation to the benefit of the industry and consumers,” stated Arris chairman and CEO Bob Stanzione.
Arris said in December that the acquisition of Motorola Home will enable the company to deliver next-generation consumer video products. They will also benefit from Motorola Mobility patents.