After officially closing its $2.1 billion purchase of rival UK set-top maker Pace, Arris announced the executive structure for the combined company.
Arris announced that the High Court of Justice in England and Wales has conditionally approved its $2.1 billion acquisition of Pace, setting up the deal to close on Jan. 4.
Fresh off its acquisition of Cisco's CPE unit, Technicolor is looking to take on market leader Arris in the business of selling video set-tops, routers and other customer premises equipment. Even with the acquisition, however, the French-owned media tech company still only controls 14 percent of the market compared to about 24 percent for Arris, putting it at a distinct disadvantage in terms of scale.
No. 1 pay-TV cable CPE maker Arris said its merger with No. 2 UK rival Pace has cleared the Department of Justice, with nary a condition.
Arris said it's aware of a backdoor vulnerability to its cable modems, but that the security risk is "low."
A Brazilian security analyst has documented multiple backdoors allowing remote access to Arris cable modems.
Arris' acquisition of 65 percent of ActiveVideo, which it announced last April as part of a partnership with Charter Communications to buy the cloud TV provider, will give the company an early foothold in the cloud DVR world, according to a top Arris executive.
Arris reported third quarter revenue of $1.22 billion, down 13.1 percent year over year, with continuing slow sales to U.S. telco companies AT&T and Verizon dragging down the network equipment vendor's CPE business.
Arris says the U.S. Department of Justice has requested additional information about "certain optical transmission products," and Arris' proposed $2.1 billion purchase of Pace won't close until at least late December.
Arris introduced new gear to bolster its Moxi video interface in its battle for market share with TiVo among small- and mid-sized cable operators.