Arris to Acquire Tandberg Television in $1.2B Deal
, an Atlanta-based provider of telecommunications equipment for broadband networks, is purchasing Tandberg Television
of Oslo Norway, in a cash and stock deal worth $1.2 billion.
The combined company will give Arris more than 25 percent of the global video processing market. Arris is a leading developer of voice over IP data broadband network equipment and consumer premises devices; Tandberg is one the world's largest providers of video processing technology. The Tandberg acquisition will give Arris the video technology it needs to make a significant penetration into the growing market for video over broadband, according to company execs.
"The combination of Arris and Tandberg Television clearly creates that market leading supplier of voice, video and data solutions," said Jan Christian Opsahl, chairman of Tandberg Television.
"By bringing together these two market leaders we are able to expand on our vision to be the global leader in the provision of digital IP infrastructure and to enable voice, video and data to be delivered over integrated broadband networks from the content provider to the head-end to the home," says Bob Stanzione, chairman and CEO of Arris.
The combined company will have 1,600 employees and more than 2,000 customers in more than 100 countries.
The deal is expected to close by this summer, pending regulatory and other customary approvals.