ARRIS is to acquire rival STB manufacturer Pace for £1.4 billion, resulting in the formation of New ARRIS.
The deal will see ARRIS expand globally and make a push into the satellite market.
New ARRIS is expected to be listed on the NASDAQ stock exchange under the ticker ARRS. In connection with the formation of New ARRIS each current share of ARRIS will be exchanged for one share in New ARRIS.
“This transaction is another example of ARRIS’s ongoing strategy of investing in the right opportunities to position our company for growth,” comments ARRIS Chairman and CEO, Bob Stanzione (who will be New ARRIS Chairman and CEO). “Adding Pace’s talent, products and diverse customer base will provide ARRIS with a large scale entry into the satellite segment, broaden our portfolio and expand our global presence.”