Google unloads Motorola’s set-top box business for $2.35 billion
Google (GOOG) took a significant step toward selling off Motorola for parts on Wednesday when it sold Motorola’s Home division to broadband media technology company ARRIS for $2.35 billion. In a press release, ARRIS said that “Google will receive $2.05 billion in cash and approximately $300 million in newly issued ARRIS shares” that would give Google a 15.7% ownership stake in the company. Motorola Home, which is primarily responsible for manufacturing and selling the company’s television set-top boxes, has been rumored to be on the selling block for a while now. Google has shown little interest in incorporating Motorola into its own business for the long haul and has admitted that it purchased the company mostly to acquire its patents.
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