CommScope, getting ready for 5G, spends USD 5.7B for Arris

AP
Published Nov 9, 2018, 10:16 am IST
Updated Nov 9, 2018, 10:21 am IST
Equipment makers and telecommunications companies like Verizon are all gearing up for 5G.
Arris makes modems and boxes for the wireless industry, including cable operators. (AP Photo/Mark Schiefelbein, File)
 Arris makes modems and boxes for the wireless industry, including cable operators. (AP Photo/Mark Schiefelbein, File)

Telecommunications equipment maker CommScope is paying USD 5.7 billion for Arris International as it prepares for the entrance of faster 5G service to the wireless market.

Arris makes modems and boxes for the wireless industry, including cable operators. Equipment makers and telecommunications companies like Verizon are all gearing up for 5G, which is expected to allow for higher and faster data rates and better connections between multiple devices.

 

Under the deal announced Thursday, CommScope Holding Co. will pay USD 31.75 per share for Arris International Plc. and assume the company’s debt, bringing the total buyout price to about USD 7.4 billion. Also, asset manager The Carlyle Group is helping to finance the deal with a USD 1 billion investment in CommScope.

Click on Deccan Chronicle Technology and Science for the latest news and reviews. Follow us on Facebook, Twitter

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT