SUWANEE, Ga., July 5, 2016 /PRNewswire/ -- ARRIS International,
plc (NASDAQ: ARRS) today announced it has entered into a warrant
agreement with Comcast Cable. The warrants provide Comcast with the
opportunity to acquire ordinary shares of ARRIS based on specific
sales targets for 2016 and 2017.
ARRIS provides Comcast with a range of technologies for its
video (including the X1 platform), high-speed data and voice
services, wireless gateways supporting the delivery of Comcast's
fastest in-home WiFi service, and networking and other hardware
equipment.
"Comcast continues to be a strong strategic partner for ARRIS"
said Bob Stanzione, ARRIS Chairman
and CEO. "We believe the warrants demonstrate Comcast's
strong commitment to ARRIS and its products and represent an
opportunity for us to further grow our
relationship."
About ARRIS
ARRIS International plc (NASDAQ:
ARRS) is a world leader in entertainment and communications
technology. Our innovations combine hardware, software, and
services across the cloud, network, and home to power TV and
Internet for millions of people around the globe. The people of
ARRIS collaborate with the world's top service providers,
content providers, and retailers to advance the state of our
industry and pioneer tomorrow's connected world. For more
information, visit www.arris.com.
For the latest ARRIS news:
- Check out our blog: ARRIS EVERYWHERE
- Follow us on Twitter: @ARRIS
Forward-Looking Statements
This press release contains
forward looking statements, including those related to sales levels
to Comcast or within specific operating segments of ARRIS and the
resulting impact on our operating results. These statements involve
risks and uncertainties that may cause actual results to differ
materially from those set forth in these statements. Among
other things, an increase in the fair value of the warrants prior
to vesting will require us to reduce our GAAP revenues associated
with sales to Comcast; we may not achieve the minimum sales levels,
either in the aggregate or within the Network & Cloud segment,
necessary for the warrants to vest; the income from the sales
covered by the warrants may not offset the cost of the warrants;
the dilutive impact of the issuance of the warrants may cause
greater volatility in the trading price of our ordinary shares; and
we may face adverse customer reaction to the issuance of the
warrants. 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 the Company's reports filed with the
Securities and Exchange Commission, including its Quarterly Report
on Form 10-Q for the quarter ended March 31, 2016. 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.
ARRIS and the ARRIS Logo are trademarks or registered
trademarks of ARRIS Enterprises LLC. All other
trademarks are the property of their respective owners. ©
ARRIS Enterprises LLC. 2016. All rights reserved.
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SOURCE ARRIS