Arris Seals Com21 Deal
By Karen Brown -- Multichannel News, 8/14/2003 8:28:00 AM
After waiting out a final auction formality, Arris has completed its acquisition of bankrupt Com21 Inc.’s cable-modem-termination-system technology, plus stock in a Com21 subsidiary in Ireland.
The final sale price will be approximately $2.8 million.
Com21 late last month announced the sale of its Data Over Cable Service Interface Specification CMTS technology to Arris and, at the same time, said it would file for Chapter 11 bankruptcy.
But before the deal could be finalized, bankruptcy regulations required that the assets first be offered at auction to see if there were any higher bidders. The process apparently didn’t generate any other takers, so the deal can now be finalized.
The deal gives Arris Com21’s Data Over Cable Service Interface Specification 2.0-based CMTS, which Arris has been reselling for several months under the "Cadent C3" brand.
About 45 Com21 employees will also transfer over to Arris.
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