made a $730 million stock and cash deal for rival
( CCBL), sparking the networking industry consolidation game back to life.
Arris says it will pay $13.75 a share in cash or stock for each share of C-Cor. The offer represents a 39% premium over C-Cor's closing price of $9.88 Friday.
Both Arris and State College, Pa.-based C-Cor make networking gear for cable and satellite TV broadcasters.
The deal is among the first between communications technology shops since the recent credit crunch cooled off the mergers and acquisition activity in the industry. The Arris and C-Cor deal could help revive some stalled matchmaking.
merger talks continue with
( NT), telecom-equipment maker
( TLAB), the sides have yet to strike an agreement, say people familiar with the discussions.
C-Cor shares rose $3.37, or 34%, to $13.25 and Arris shares were down 93 cents to $13.33.