SUWANEE, Ga., April 16, 2013 /PRNewswire/ -- ARRIS Group,
Inc. today announced that effective April
16, 2013, it has reorganized its business by creating a new
holding company structure. The primary purpose of the
reorganization was to facilitate ARRIS' proposed acquisition of the
Motorola Home business from a subsidiary of Google, which ARRIS
expects to close Wednesday, April 17,
2013. The business operations of the company and its
subsidiaries will not change as a result of the reorganization.
The new holding company will retain the name "ARRIS Group,
Inc." Outstanding shares of the capital stock of the former
ARRIS Group, Inc. were automatically converted, on a share for
share basis, into identical shares of common stock of the new
holding company. As a result, stockholders will not need to
exchange their old stock certificates. The common stock of
the new holding company will continue to be listed on the NASDAQ
Global Market System under the symbol "ARRS." The certificate
of incorporation, bylaws, executive officers and board of directors
of the new holding company are the same as those of the former
ARRIS Group, Inc. in effect immediately prior to the
reorganization. In addition, the rights, privileges and
interests of the company's stockholders will remain the same with
respect to the new holding company.
Additional information can be found in the Form 8-K which will
be filed today with the Securities Exchange Commission.
About ARRIS
ARRIS is a global communications technology company specializing
in the design, engineering and supply of communications and IP
technologies that support broadband services for residential and
business customers around the world. The company supplies broadband
operators with the tools and platforms they need to deliver and
monitor advanced video, data and voice subscriber services,
including whole home video across multiple screens, ultra
high-speed data, personalized advertising and carrier-grade
telephony. Headquartered near Atlanta, in Suwanee,
Georgia, USA, ARRIS has R&D, sales, and support centers
throughout the world. Information about ARRIS products and services
can be found at www.arrisi.com.
Forward-Looking Statements
This press release and
related public disclosures contain forward looking statements.
These statements include, among others, statements concerning the
closing of the acquisition of the Motorola Home business.
Statements regarding future events are based on the parties'
current expectations. Actual results may differ materially from
those suggested by any forward-looking statement. Forward-looking
statements are necessarily subject to associated risks related to,
among other things, satisfaction of all remaining closing
conditions and the conditions for funding under ARRIS' credit
facility. Other factors that could cause results to differ
from current expectations include: the uncertain current economic
climate and financial markets, and their impact on our customers'
plans and access to capital: the impact of rapidly changing
technologies; the impact of competition on product development and
pricing; the ability of ARRIS to react to changes in general
industry and market conditions; rights to intellectual property and
the current trend toward increasing patent litigation, market
trends and the adoption of industry standards; possible
acquisitions and dispositions; and consolidations within the
telecommunications industry of both the customer and supplier base.
These factors are not intended to be an all-encompassing list of
risks and uncertainties that may affect the Company's business.
Additional information regarding these and other factors can be
found in ARRIS' reports filed with the Securities and Exchange
Commission, including its Form 10-K for the year ended December 31, 2012. In providing forward-looking
statements, the Company expressly disclaims any obligation to
update publicly or otherwise these statements, whether as a result
of new information, future events or otherwise.
SOURCE ARRIS Group, Inc.