Google sells Motorola TV set-top biz to Arris Group

BANGALORE, INDIA: Google Inc sold set-top TV box maker Motorola Home to Arris Group Inc for $2.35 billion in cash and stock, the companies announced on Wednesday, according to a report on Reuters.

The transaction, which was approved by the boards of directors of both companies, is expected to close by the second quarter of 2013, subject to regulatory approvals.

Arris Group is a telecommunications equipment manufacturing company, which provides cable operators with high-speed data, video and telephony systems for homes and businesses. The company is headquartered in Suwanee, Georgia, and has design, engineering, manufacturing, distribution, service and sales office locations throughout the world.

Google acquired Motoroal Home as a part of itd $12.5 billion acquisition of Motorola Mobility, which was completed was completed on May 22, 2012. Alongside the completion of the acquisition, Motorola Mobility's CEO, Sanjay Jha, was replaced by Dennis Woodside, formerly a Google senior vice president.