U.S. telecommunications equipment maker CommScope Holding Company Inc announced that it will buy telecommunications equipment manufacturing company Arris International Plc for about $5.9 billion in cash.
With the acquisition, CommScope intends to expand its presence in the communications market ahead of the roll-out of the fifth generation.
The offer price was $31.75 per share.
This shows a premium of 14 percent over Arris’ Wednesday close.