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ARRIS (ARRS) Closes Ruckus Wireless Buyout From Broadcom
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ARRIS International plc has recently completed the previously announced acquisition of Ruckus Wireless and ICX Switch Business from Broadcom Limited (AVGO - Free Report) .
The deal was announced in February for a cash of $800 million along with the additional cost of unvested employee stock awards following Broadcom’s buyout of Brocade in November, 2017.
ARRIS’ acquisition is expected to be value accretive to its earnings in the first year. The closure of the deal has resulted in further strengthening of the company’s already strong position pertaining to converged wired and wireless networking technologies, beyond the home space, including education, public venues, enterprises, hospitality and the MDU markets. The takeover places ARRIS for new growth phase, using the companies’ combined technology assets to enable next-generation wireless and wired networks.
Notably, Dan Rabinovitsj, former COO of Ruckus Wireless, is the current President of ARRIS’ Enterprise Networks business segment named Ruckus Networks. The newly formed Ruckus Networks unit will function under the Enterprise Networks division at ARRIS. The business will work on delivering innovative wireless networking and wired switching technology to cater to the evolving and emerging needs across a number of verticals.
This buyout is expected to increase ARRIS’ existent workforce as around 1700 employees from Ruckus Wireless and ICX Switch Business are set to join the company.
ARRIS carries a Zacks Rank #2 (Buy). Investors interested in the same space may also consider Arista Networks, Inc. (ANET - Free Report) and TESSCO Technologies Incorporated , each sporting a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.
Shares of Arista Networks and TESSCO Technologies have surged more than 100% and 35%, respectively, in a year.
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ARRIS (ARRS) Closes Ruckus Wireless Buyout From Broadcom
ARRIS International plc has recently completed the previously announced acquisition of Ruckus Wireless and ICX Switch Business from Broadcom Limited (AVGO - Free Report) .
The deal was announced in February for a cash of $800 million along with the additional cost of unvested employee stock awards following Broadcom’s buyout of Brocade in November, 2017.
ARRIS’ acquisition is expected to be value accretive to its earnings in the first year. The closure of the deal has resulted in further strengthening of the company’s already strong position pertaining to converged wired and wireless networking technologies, beyond the home space, including education, public venues, enterprises, hospitality and the MDU markets. The takeover places ARRIS for new growth phase, using the companies’ combined technology assets to enable next-generation wireless and wired networks.
Notably, Dan Rabinovitsj, former COO of Ruckus Wireless, is the current President of ARRIS’ Enterprise Networks business segment named Ruckus Networks. The newly formed Ruckus Networks unit will function under the Enterprise Networks division at ARRIS. The business will work on delivering innovative wireless networking and wired switching technology to cater to the evolving and emerging needs across a number of verticals.
This buyout is expected to increase ARRIS’ existent workforce as around 1700 employees from Ruckus Wireless and ICX Switch Business are set to join the company.
ARRIS International PLC Price
ARRIS International PLC Price | ARRIS International PLC Quote
Zacks Rank & Other Key Picks
ARRIS carries a Zacks Rank #2 (Buy). Investors interested in the same space may also consider Arista Networks, Inc. (ANET - Free Report) and TESSCO Technologies Incorporated , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Arista Networks and TESSCO Technologies have surged more than 100% and 35%, respectively, in a year.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Click here for Zacks' private trades >>