Comcast spending $150 million for 8 percent stake in Arris

The nation's largest cable service provider, Comcast, is investing $150 million in cable box manufacturer Arris, the companies announced today. Arris announced the agreement yesterday to sell roughly 10.6 million shares of its common stock, valued at $150 million, to Comcast. The deal will be completed in conjunction with Arris' purchase of the Motorola Home business from Motorola Mobility, a subsidiary of Google, that was worth $2.35 billion.

"We believe this investment by one of our largest customers is a strong indication of customer support for the Motorola Home acquisition and its potential to accelerate innovation to the benefit of the industry and consumers," Arris CEO Bob Stanzione said in a prepared statement.

Comcast will also take a more active role in working with Arris on its cable/video box strategy going forward. Hopefully, that means many cable subscribers can look forward to better set-top boxes with more functionality than the current selection offers.

Read more -here-

• Waymo can now test its self-driving vehicles in New York City
• The US government is taking a 10 percent stake in Intel
• Google is selling a version of Gemini for government agencies
• PayPal breach exposed nearly 16M login credentials, hackers claim
• Apple is reportedly manufacturing all four iPhone 17 models in India
• AT&T customers could get thousands in $177M settlement