ARRIS and TANDBERG Television have reached an agreement in which ARRIS acquires all outstanding TANDBERG shares for an aggregate purchase price of $1.214 billion at current exchange rates.
The transaction is expected to be complete in the second quarter of 2007, and is subject to regulatory approval, as well as TO ARRIS receiving unconditional acceptance of the offer from shareholders representing more than 90% of the shares.
“The ongoing industry consolidation amongst our key customer base creates a demand for companies that can offer an increasing scale and scope of supply on a global basis. The combination of ARRIS and TANDBERG Television clearly creates that market-leading supplier of voice, video and data solutions,” says Jan Christian Opsahl, chairman of TANDBERG Television.
ARRIS, headquartered in Suwanee, GA, is a global telecommunications company that provides cable operators with high-speed data, video and telephony systems. TANDBERG Television, located in Southhampton, UK, is a manufacturer of digital television broadcast systems. The combined company will have over 1,600 employees and more than 2,000 customers in more than 100 companies.
For more information, visit www.arrisi.com and www.tandbergtv.com.
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