Arris to Be Acquired by CommScope in $7.4 Billion Deal

Shares of Arris International PLC (ARRS) soared Thursday, Nov. 8, on news that the set-top box manufacturer would be acquired by telecom equipment maker CommScope Holding Co. (COMM) in an all-cash deal valued at about $7.4 billion.

The offer price was $31.75 a share.

Arris International was up 10.9% to $30.81. CommScope declined nearly 17%.

Private-equity firm Carlyle Group, which took CommScope public in 2013, has re-established an ownership position in CommScope through a $1 billion minority equity investment as part of CommScope's financing of the transaction, CommScope said in a statement.

The deal is expected to close in the first half of 2019.

More from Technology

Nvidia Wipes Nearly $25 Billion From Its Market Cap After Earnings Day Disaster

Nvidia Wipes Nearly $25 Billion From Its Market Cap After Earnings Day Disaster

Nvidia Shares Tank as Analysts Cut Price Targets

Nvidia Shares Tank as Analysts Cut Price Targets

Facebook Stock Slides Another 3% as Woes Continue

Facebook Stock Slides Another 3% as Woes Continue

Hulu vs. Netflix: Which Is Better in 2018?

Hulu vs. Netflix: Which Is Better in 2018?

Facebook Needs a Management Shake-Up to Restore Credibility, Analyst Says

Facebook Needs a Management Shake-Up to Restore Credibility, Analyst Says