ARRIS, Charter To Acquire ActiveVideo Through New JV For $135 Mln - Quick Facts

(RTTNews) - ARRIS Group Inc. (ARRS) and Charter Communications, Inc. (CHTR) Tuesday said they established a joint venture that has agreed to acquire ActiveVideo for about $135 million. ARRIS will own 65 percent of the joint venture company and will be the sales channel for ActiveVideo's CloudTV platform.

Closing of the transaction is expected to occur in the second quarter. Jeff Miller will continue to lead ActiveVideo as CEO.

ActiveVideo is the developer of CloudTV, the only cloud-based software platform enabling service providers, content aggregators, and consumer electronic manufacturers to rapidly deploy new services by virtualizing consumer premises equipment 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.

ActiveVideo's CloudTV platform and proven intellectual property will complement ARRIS's cloud portfolio. ARRIS's service provider relationships, global reach and installed base of CPE are expected to accelerate adoption of ActiveVideo's technology.