Mergers and Acquistions News
Categories: IT Services & Consulting, Software
October 12th 2011, 13:42PM
A takeover of BigBand Networks by ARRIS is set to go through in the near future, it has emerged.
The global communications technology firm - which specialises in the design and supply of broadband services to both residential and business customers - has announced its intention to purchase BigBand for a total fee of around $172 million (£109 million).
This represents a premium of around 76 per cent due to the individual share price of $2.24 in cash, but ARRIS revealed in a statement it feels the investment is worthwhile thanks to its expected positive influence on the company's video technology arm.
In addition, the US-based organisation also noted the agreement should enable it to continue acquiring more patents in this important sector moving forward.
"BigBand's valuable patent portfolio, coupled with their expertise in digital video networking, will enhance ARRIS' technological leadership as service providers move to an all-Internet Protocol Converged Network Architecture," the firm concluded. 
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