Andre Yoskowitz
12 Apr 2013 20:21
After four months, the Department of Justice has approved Google's sale of its Motorola Home set-top division to Arris for $2.35 billion.
The deal is expected to close next week. Arris is a provider of high-speed Internet equipment.
Google will own 7.85 percent of Arris after the deal, with Comcast taking a similar share for $150 million.
"We share a similar vision and strategy with Arris for the industry's migration to IP. The combination of our solutions, expert technologists and roadmaps promises to transform how service providers deliver the smart, simple connected home to consumers throughout the world," said Marwan Fawaz, executive vice president of Motorola Mobility.
While being outside of Google's realm, the set-top box business also proved to be a liability as TiVo is seeking billions in a patent lawsuit that is currently ongoing. The deal was finally approved in December after Google said it would foot most of the bill if TiVo were to win. TiVo has already won over $1 billion from Verizon, Dish and others for similar lawsuits implying the final settlement could be in the $300-$500 million range.