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Comcast invests $150 million in Arris, maker of set-top boxes

Comcast buys $150 million worth of common stock for Arris, a set-top box maker who sells to Comcast

| Business, Financial & Legal News | Posted: Jan 16, 2013 12:14 am

Comcast has purchased a stake worth $150 million in Arris, a set-top box maker. Cable still relies on users having set-top boxes, so it's probably not a bad investment for Comcast to be making. In return for the cash, Comcast will receive around 10.6 million shares of common stock in the company.

 

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Comcast's purchase will close along with Arris' purchase of Motorola Home from Google. The value of Motorola Home is valued at $2.35 billion. Both Comcast and Google will end up with roughly a 7.85 percent stake in Arris once the deals are complete.

 

"We are very pleased that Comcast has agreed to make this significant investment in Arris," said Bob Stanzione, CEO of Arris. "We believe 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."

NEWS SOURCES:News.cnet.com

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