Atlanta video tech company ARRIS being bought for $7.4B

Atlanta Business Chronicle

By   – Editor, Atlanta Business Chronicle

Atlanta video technology giant ARRIS International Plc (Nasdaq: ARRS) is being acquired by CommScope (Nasdaq: COMM) in a $7.4 billion deal.

Suwanee-based ARRIS produces entertainment, communications, and networking technology with $6.6 billion in revenues in 2017 and $4.96 billion through the first nine months of 2018. CommScope, based in Hickory, N.C., produces wireless and fiber optic technology used in communications networks with 2017 revenues of $4.6 billion.

The deal will create a company with approximately $11.3 billion in revenue.

“After a comprehensive evaluation of our business and the evolving industry we operate in, we are confident that combining with ARRIS is the best path forward for CommScope to grow and provide the greatest returns for shareholders,” said Eddie Edwards, president and CEO of CommScope, in a statement. “CommScope and ARRIS will bring together a unique set of complementary assets and capabilities that enable end-to-end wired and wireless communications infrastructure solutions that neither company could otherwise achieve on its own. With ARRIS, we will access new and growing markets, and have greater technology, solutions and employee talent that will provide additional value and benefit to our customers and partners."

ARRIS CEO Bruce McClelland said in a statement, “CommScope is an ideal partner for ARRIS. In addition to providing immediate and substantial cash value to our shareholders, we are excited for what this combination will deliver for our customers, partners and employees around the world."