Arris, Charter Complete Acquisition of ActiveVideo

Arris, Charter complete acquisition of ActiveVideo.

May 1, 2015

1 Min Read

SUWANEE, Ga. and STAMFORD, Conn. -- ARRIS Group Inc. (NASDAQ: ARRS) (ARRIS) and Charter Communications, Inc. (NASDAQ: CHTR) (Charter) announced today that they have completed the acquisition of ActiveVideo® in a transaction valued at approximately $135 million. With the transaction complete, ARRIS now owns 65% of the joint venture company formed by ARRIS and Charter for the acquisition. ActiveVideo will operate independently of ARRIS and Charter, with ARRIS serving as the sales channel for ActiveVideo's CloudTV™ platform outside of sales to Charter.

ActiveVideo is the developer of CloudTV, a cloud-based software platform enabling service providers, content aggregators, and consumer electronic (CE) manufacturers to rapidly deploy new services by virtualizing consumer premises equipment (CPE) functions in the cloud. CloudTV enables the delivery of next-gen user interfaces, online content, and interactive advertising for TV to millions of set-tops and connected devices. The platform is one of the key technologies enabling Charter's new fully featured, cloud-based Spectrum Guide.

Jeff Miller will continue to lead ActiveVideo as CEO. The ActiveVideo Board of Directors is comprised of both ARRIS and Charter executives, with Board composition commensurate with the companies' ownership.

Arris Group Inc. (Nasdaq: ARRS)
Charter Communications Inc.

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