Just Another Mobile Phone Blog: Google sold its Motorola Home

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Google sold its Motorola Home Dec 21st 2012, 07:25 Google and ARRIS Group announced that RRIS and Motorola Mobility - a subsidiary of Google, signed a definitive agreement whereby ARRIS will acquire Motorola Home business from Motorola Mobility for $ 2.35 billion in cash and stock. The transaction was approved by the Board of Directors of both companies. Under the agreement, after the closing of the transaction, Google will receive $ 2.05 billion in cash and approximately $ 300 million in shares of the new issue ARRIS, subject to certain adjustments as provided in the agreement, representing approximately 15.7% of the shares in ARRIS after adjusting and closing accounts. The transaction is expected to close in the second quarter of 2013, according to the usual conditions for reconciliation and closure.

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