SUWANEE, Ga. and STAMFORD, Conn., April
14, 2015 /PRNewswire/ -- ARRIS Group Inc. (NASDAQ: ARRS)
(ARRIS) and Charter Communications, Inc. (NASDAQ: CHTR) (Charter)
announced today that they established a joint venture that has
agreed to acquire ActiveVideo® for approximately $135 million. ARRIS will own 65% of the joint
venture company and will be the sales channel for ActiveVideo's
CloudTV platform. Closing of the transaction is expected to occur
in the second quarter, subject to customary closing conditions,
including receipt of necessary regulatory approvals.
ActiveVideo is the developer of CloudTV™, the only cloud-based
software platform enabling service providers, content aggregators,
and consumer electronic (CE) manufacturers to rapidly deploy new
services by virtualizing consumer premises equipment (CPE)
functions in the cloud. CloudTV enables the delivery of next-gen
user interfaces, online content, and interactive advertising for TV
to millions of set-tops and connected devices. ActiveVideo's
CloudTV platform and proven intellectual property (39 issued
patents and 64 pending) will complement ARRIS's cloud portfolio.
ARRIS's service provider relationships, global reach and installed
base of CPE are expected to accelerate adoption of ActiveVideo's
technology.
ActiveVideo's platform powers Charter's new fully featured,
cloud-based Spectrum Guide. Charter expects to launch Spectrum
Guide on Worldbox, as well as on legacy boxes currently deployed
within the Charter footprint. ActiveVideo's global base of
customers includes: Cablevision, Liberty Global, Deutsche Telekom,
Time Warner Cable, J:COM, Philips, and Roku.
"This joint venture signifies ARRIS's continued investment in
advanced software solutions that will create value across the
entire video ecosystem," said Bob
Stanzione, ARRIS Chairman and CEO. "We look forward to the
untold opportunities our extended partnership with Charter will
spawn as we march together into the future. ARRIS and Charter are
paving the way for an all IP network migration and enabling the
software-defined TV experience that will deliver the unified,
next-gen content experiences that today's consumers demand."
"ActiveVideo's CloudTV platform is one of the enabling
technologies behind Spectrum Guide. We have worked very closely
with ActiveVideo on the development of this technology, and now, as
a 35% shareholder, are uniquely positioned to support the continued
innovation and marketplace adoption of ActiveVideo's solutions,"
said Tom Rutledge, President and CEO
of Charter Communications. "Today's announcement extends Charter's
long-standing relationship with ARRIS, who continues to be a key
provider of both infrastructure and consumer premises equipment. We
are excited to be partnering with them on this acquisition and to
be continuing our collaboration on next-generation
platforms."
Jeff Miller will continue to lead
ActiveVideo as CEO. "This joint venture gives us the ability to
take ActiveVideo's vision to the next level by partnering with two
industry forces such as ARRIS and Charter. This is a great
opportunity to extend the promise of ActiveVideo's solutions," said
Jeff Miller.
About ARRIS
ARRIS is a global innovator in IP, video
and broadband technology. We have continually worked with our
customers to transform the experience of entertainment and
communications for millions of people around the world. The people
of ARRIS are dedicated to the success of our customers, bringing a
passion for invention that has fueled our history: We created
digital TV, delivered the first wireless broadband gateway and are
pioneering the standards and pathways for tomorrow's personalized,
Ultra HD, multiscreen, and cloud services. We are dedicated to
meeting today's challenges and preparing for the tasks the future
holds. Collaborating with our customers, ARRIS will continue to
solve the most pressing challenges of 21st century communications.
Together, we are inventing the future. For more
information: www.arris.com
For the latest ARRIS news:
- Check out our Blog: ARRIS EVERYWHERE
- Follow us on Twitter @ARRIS
About Charter
Charter (NASDAQ: CHTR) is a leading
broadband communications company and the fourth-largest cable
operator in the United States.
Charter provides a full range of advanced broadband services,
including advanced Charter Spectrum TV® video entertainment
programming, Charter Spectrum Internet® access, and Charter
Spectrum Voice®. Spectrum Business similarly provides scalable,
tailored, and cost-effective broadband communications solutions to
business organizations, such as business-to-business Internet
access, data networking, business telephone, video and music
entertainment services, and wireless backhaul. Charter's
advertising sales and production services are sold under the
Charter Media® brand. More information about Charter can be found
at charter.com.
ARRIS and the ARRIS Logo are trademarks or registered trademarks
of ARRIS Enterprises, Inc. All other trademarks are the property of
their respective owners. © ARRIS Enterprises, Inc. 2015. All rights
reserved.
Forward-Looking Statements of ARRIS:
This news release contains forward looking statements with
respect to ARRIS Group, Inc. The statements include, among others,
the anticipated closing of the acquisition, the ability to
accelerate time to market of the ActiveVideo products, future
opportunities resulting from the formation of the joint venture,
continued innovation, and general expectations for the acquisition
and the formation of the joint venture. Actual results may differ
materially from those contained in any forward-looking statements.
Specific factors that could cause material differences include,
among other things, the ability to satisfy the closing conditions,
including receipt of necessary regulatory approvals, potential
impact on the business of ActiveVideo or uncertainty regarding the
acquisition, customer acceptance of and the demand for ActiveVideo
products and the possible loss of ActiveVideo's employees. The
above listing of factors is representative and is not intended as
an all-encompassing list of factors. For additional factors, please
see ARRIS's Annual Report on Form 10-K for the year ended
December 31, 2014. ARRIS disclaims
any obligations to update forward-looking statements, whether as a
result of new information, future events or otherwise except as
required by law.
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SOURCE ARRIS Group Inc.