Arris Group Inc., a broadband communications equipment maker based in Suwanee, has agreed to buy a California firm for $53 million. The deal for Big Band Networks is expected to close later this year.
Arris said the deal will extend its capabilities in processing, managing and distributing digital video content, according to a news release.
Arris will pay $2.24 per share in cash in a deal valued at about $172 million, counting BigBand's cash on hand.
Also, Arris will host the Society of Cable Telecommunications Engineers' (SCTE) Cable-Tec EXPO on November 15-17, 2011, at the World Congress Center, according to a news release. ARRIS will showcase how it can assist operators in achieving business objectives and transition to converged IP services during speaker presentations, sponsored events and product demonstrations.
CEO Bob Stanzione will participate on the opening general session on Industry Partnerships, and there will be 11 company presentations in all.