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Google to Sell Motorola Home to Arris for $2.35 Billion

Google Inc. agreed to sell its Motorola Home business to Arris Group Inc. for $2.35 billion, finding a buyer for a division that sells television set-top boxes while it focuses on expanding in smartphones.

Arris, a cable-equipment maker, will pay about $2.05 billion in cash and about $300 million in newly issued shares that will give Google a stake of about 15.7 percent, the companies said yesterday in a statement.