TELECOMMUNICATIONS MANUFACTURER COMMSCOPE said Thursday that it has agreed to acquire set-top maker Arris in a deal valued at $7.4 billion.
In addition, global alternative asset manager The Carlyle Group has re-established an ownership position in CommScope through a $1 billion minority equity investment as part of CommScope's financing of the transaction.
Subject to customary closing conditions, the deal is expected to close in the first half of 2019, reads the news release.
"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 CommScope president and CEO Eddie Edwards, in the release. "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.”
