Google sells Motorola’s cable set-top unit for $2.35 billion
Looks like Google is about to add a nice amount of change into their bank account with official word that ‘ol Googs is selling Motorola’s cable set-top unit for a cool $2.35 billion. Cable equipment manufacturer Arris is the new buyer and will pay up $2 billion in cash and $300 million in stock to Google, giving Arris a nice portfolio of patents and Google 15.7% ownership of Arris.
Today’s news shouldn’t come as much of a surprise. Ever since Google bought Motorola for $12.5 billion last year we’ve heard talk that Google was planning on selling off the cable unit. Even though some were hoping Motorola’s set top unit could be used to further push Google TV, doesn’t seem Google had much different plans, keeping Motorola afloat being one of them. Deal is expected to close during the first half of next year.
[Motorola]