Tuesday, October 11, 2011

BigBand Networks Acquired By ARRIS For $53M

Redwood City-based BigBand Networks, a provider of broadband video services, has been acquired by ARRIS, ina deal worth $53M. According to ARRIS, it will pay $2.24 per share in cash for BigBand, worth a diluted equity value of approximately $172M. After accounting for cash on hand at BigBand, the deal is worth $53M. ARRIS said the buy will extend its capabilities in processing, management and distribution of digital video content.