In the shifting, converging worlds of cable, telco, and wireless, we've always been an expert partner to our customers. As we work together to enable the next era of connected experiences, we are beginning to see the lines blur; not just between wireless technologies, but between wired and wireless networking. Five years from now, every service provider will also be a wireless operator.
That’s why today we’re excited to announce that we’re planning to acquire Ruckus Wireless and ICX campus switching from Broadcom.
We've set an aggressive growth strategy for ARRIS that includes expanding our technology breadth and depth with a focus on wireless broadband. This strategy will also take us beyond the home - and into new, adjacent markets. The acquisition accomplishes all of these goals, expanding our focus into the enterprise networking and wireless spaces, as well as augmenting our portfolio of products serving our existing and emerging customers.
Ruckus is leading the industry in the development of an exciting new approach for delivering very high-bandwidth cellular service - areas that are of high interest to both mobile and fixed Service Providers. Combining the strengths of ARRIS and Ruckus will allow us to be agile, innovative and evolve our services as those lines blur between wireline and wireless operators.
As you’ve seen from our Motorola and Pace acquisitions, we have a fantastic track record of making investments that significantly grow our business and create value for all of our stakeholders - customers, employees, shareholders and partners.
Through our existing collaborations with the Ruckus team, we are very familiar with the amazing talent and innovation that have created this world-class brand. We plan to introduce Ruckus as a dedicated business unit within ARRIS, led by current Ruckus COO and industry veteran, Dan Rabinovitsj. Under Dan's exceptional leadership, the team's focus will remain on technological innovation, channel and partner ecosystems and vertical market development.
We look forward to welcoming Ruckus to the ARRIS family – and are excited by the future strides we will take together – as ARRIS continues to power the digital world.
This communication regarding the transaction contain forward-looking statements concerning the transaction, the expected benefits, and the timing of closing. Forward-looking statements generally may be identified by the use of forward-looking terms such as "may," "will," "expects," "believes," "anticipates," "plans," "estimates," "projects," "targets," "forecasts," "outlook," "impact," "potential," "confidence," "improve," "optimistic," "deliver," "comfortable," "trend" and "seeks," or the negative of such terms or other variations on such terms or comparable terminology. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the possibility that proposed acquisition of Brocade by Broadcom will not be completed and the possibility that the proposed acquisition of the Ruckus Wireless broadband and ICX Switch business by ARRIS will not be completed, whether as a result of the failure to obtain necessary regulatory approvals, to satisfy any of the other conditions to the transactions or otherwise; adverse effects on the market price of ARRIS shares and on ARRIS's operating results because of a failure to complete the acquisition; failure of ARRIS to realize the expected benefits of the acquisition; negative effects relating to the announcement of the possible acquisition or any further announcements relating to the acquisition or the consummation of the acquisition on the market price of ARRIS shares; significant transaction costs and/or unknown liabilities; customer reaction to the announcement of the proposed acquisition; possible litigation relating to the acquisition; general economic and business conditions that affect the combined companies following the consummation of the acquisition; commercial acceptance and use of the Shared Spectrum Small Cell market by ARRIS's customers; changes in global, political, economic, business, competitive, market and regulatory forces, future exchange and interest rates, changes in tax laws or their interpretation or application, regulations, rates and policies; future business acquisitions or disposals; and competitive developments. These factors are not intended to be an all-encompassing list of risks and uncertainties. Additional information regarding these and other factors can be found in ARRIS's reports filed with the SEC, including its Quarterly Report on Form 10-Q for the quarter ended September 30, 2016. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. The factors described in the context of such forward-looking statements in this release could cause ARRIS's plans with respect to the business acquired from Broadcom, ARRIS's actual results, performance or achievements, industry results and developments to differ materially from those expressed in or implied by such forward-looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove correct and persons reading this document are therefore cautioned not to place undue reliance on these forward-looking statements, which speak only as at the date hereof. ARRIS expressly disclaims any obligation to update or correct these forward-looking statements except as required by law.