SUWANEE, Ga. and STAMFORD, Conn., May 1,
2015 /PRNewswire/ -- ARRIS Group Inc. (NASDAQ: ARRS)
(ARRIS) and Charter Communications, Inc. (NASDAQ: CHTR) (Charter)
announced today that they have completed the acquisition of
ActiveVideo® in a transaction valued at approximately $135 million. With the transaction
complete, ARRIS now owns 65% of the joint venture company formed by
ARRIS and Charter for the acquisition. ActiveVideo will operate
independently of ARRIS and Charter, with ARRIS serving as the sales
channel for ActiveVideo's CloudTV™ platform outside of sales to
Charter.
ActiveVideo is the developer of CloudTV, a 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. The platform is one
of the key technologies enabling Charter's new fully featured,
cloud-based Spectrum Guide.
Jeff Miller will continue to lead
ActiveVideo as CEO. The ActiveVideo Board of Directors is comprised
of both ARRIS and Charter executives, with Board composition
commensurate with the companies' ownership.
For additional details, please click here to see original
announcement.
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.
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SOURCE ARRIS