Google announced Thursday that it was selling its Motorola Mobility set-top box division, Motorola Home, to Arris Group for $2.35 billion. The deal, which has been approved by the boards of both companies, is expected to close by the second half of next year. Under the terms of the agreement, Google will receive $2.05 billion in cash, along with $300 million in Arris shares, which will give the search giant a 15.7 percent stake in the company. Google acquired the set-top business earlier this year with its $12.5 billion acquisition of Motorola Mobility.
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Google Unloads Motorola Set-Top Business
Posted by: Peter Suciu December 20, 2012 02:53 PMGoogle announced Thursday that it was selling its Motorola Mobility set-top box division, Motorola Home, to Arris Group for $2.35 billion. The deal, which has been approved by the boards of both companies, is expected to close by the second half of next year. Under the terms of the agreement, Google will receive $2.05 billion in cash, along with $300 million in Arris shares, which will give the search giant a 15.7 percent stake in the company. Google acquired the set-top business earlier this year with its $12.5 billion acquisition of Motorola Mobility.