SUWANEE, Ga., April 18, 2014 /PRNewswire/ -- ARRIS (NASDAQ: ARRS) announced it acquired Mississauga, Ontario-based SeaWell Networks for an undisclosed amount. This acquisition comes one year after ARRIS's significant acquisition of Motorola Mobility's Home division.
ARRIS is integrating SeaWell's adaptive bit rate (ABR) streaming technologies and talent into its Network & Cloud business. This combined portfolio – of IP video, multiscreen, and ad insertion solutions – will be the enabler for next-gen TV and advertising services. These solutions will enhance IP video by enabling new levels of interactivity and personalization. They also will streamline video distribution across a variety of devices, while minimizing the cost and complexity of multiple IP streaming platforms for multiple device types.
"This acquisition further positions ARRIS to transform IP video delivery…from content creation to consumption," said Bob Stanzione, ARRIS Chairman and CEO. "ARRIS and SeaWell Networks recently collaborated, introducing an integrated solution to monetize the multiscreen opportunity. SeaWell's technology and talent impressed our team, and we are excited to do more together. Combining our solutions, technologists and roadmaps promises to accelerate the delivery of the personalized TV and advertising solutions that service providers need and their consumers crave."
Brian Collie, SeaWell Networks Founder and CEO said, "This acquisition will create new opportunities for our employees, customers and the industry. This combination will provide the next-gen TV solutions our customers need to more quickly and cost-effectively transition to IP and multiscreen video."
ARRIS is a global innovator in IP, video and broadband technology. We have continually worked with our customers to transform the experience of entertainment and communications for millions of people across the world. The people of ARRIS are dedicated to the success of our customers, bringing a passion for invention that has fueled our 60-year history: We created digital TV, delivered the first wireless broadband gateway and are pioneering the standards and pathways for tomorrow's personalized, Ultra HD, multiscreen, and cloud services. We are dedicated to meeting today's challenges and preparing for the tasks the future holds. Collaborating with our customers, ARRIS will continue to solve the most pressing challenges of 21st century communications. Together, we are inventing the future. For more information: www.arrisi.com.
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This news release contains forward looking statements. The statements include, among others, our ability to accelerate time to market, increasing opportunities for ARRIS, plans to optimize SeaWell's performance, expansion of our customer base, continued innovation, and general expectations for the acquisition. Actual results may differ materially from those contained in any forward looking statements. Specific factors that could cause material differences include, among other things, potential impact on the business of SeaWell or uncertainty regarding the acquisition, the possible loss of SeaWell employees, the ability of ARRIS to successfully integrate SeaWell's opportunities, technology, personnel and operations, and the customer demand for our products. The above listing of factors is representative and is not intended as an all-encompassing list of factors. For additional factors please see our respective Form 10-K for the year ended December 31, 2013. We disclaim any obligations to update forward looking statements, whether as a result of new information, future events or otherwise except as required by law.
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