CommScope (NASDAQ: COMM), a global provider of infrastructure solutions for communications networks, has agreed to acquire ARRIS International plc (NASDAQ: ARRS), a global provider of entertainment and communications solutions, in an all-cash transaction for USD 31.75 per share, or a total purchase price of approximately USD 7.4 billion, including the repayment of debt, the company said.
In addition, The Carlyle Group, a global alternative asset manager, has reestablished an ownership position in CommScope through a USD 1 billion minority equity investment as part of CommScope´s financing of the transaction.
The combination of CommScope and ARRIS, on a pro forma basis, would create a company with approximately USD 11.3 billion in revenue and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of approximately USD 1.8 billion, based on results for the two companies for the 12 months ended September 30, 2018.
ARRIS, an innovator in broadband, video and wireless technology, combines hardware, software and services to enable advanced video experiences and constant connectivity across a variety of environments — for service providers, commercial verticals, small enterprises and the people they serve. ARRIS has strong leadership positions in the three segments in which it operates.
CommScope will remain headquartered in Hickory, NC, and the combined company will maintain a significant presence in Suwanee, GA.
CommScope (NASDAQ: COMM) helps design, build and manage wired and wireless networks around the world. Discover more at http://www.commscope.com/.