On September 23, 2007, ARRIS Group, Inc. and C-COR announced that they had entered into a definitive agreement whereby ARRIS would acquire C-COR for a purchase price of approximately $730 million in a mix of cash and ARRIS stock. The combination of ARRIS and C-COR will create the leading pure play cable solutions company with over $1.2 billion in sales over the past twelve months. On December 14, 2007, ARRIS and C-COR shareholders voted their approval of the proposed merger between the two companies. The merger was finalized as of close of business on December 14, 2007.
