ARRIS and TANDBERG Television have reached an acquisition agreement by which the former will purchase all outstanding shares of the latter.
The aggregate purchase price is expected to be $1.214 billion at current exchange rates. The transaction is expected to take place in the second quarter of 2007 and is subject to regulatory and other customary approvals.
ARRIS is a global provider of VoIP data broadband network equipment and consumer premises devices. TANDBERG Television offers solutions for advanced compression, on-demand and interactive television.
Upon completion of the transaction, the new company will have more than 1600 employees and more than 2000 customers in more than 100 countries.
For more information, visit www.arrisi.com and www.tandbergtv.com.
