Telecoms equipment maker Motorola has completed a previously announced acquisition of General Instrument in a deal valued at about $17 billion.
The acquisition follows approval by General Instrument shareholders of a transaction that provided each share of General Instrument be converted into 0.575 shares of Motorola common stock.
Completion of the deal unites one of the world's best known telecommunications and semiconductor equipment companies with one of the US's top providers of cable television conversion boxes. General Instrument's set-top boxes provide access to high-speed digital service from cable operators.
The deal makes Motorola a leader in the convergence of voice, video and data technologies. The combined company will focus on broadband solutions, which deliver interactive television, the Internet and telephone services over wired and wireless networks.
"The completion of the merger between Motorola and General Instrument has created the Motorola Broadband Communications Sector, a leading end-to-end solutions provider for the exploding broadband access marketplace," said Christopher B. Galvin, chairman and chief executive officer of Motorola, Inc.