Charter Communications (NASDAQ: CHTR) and Arris have jointly purchased cloud TV interface company ActiveVideo for around $135 million.
In a deal announced Monday, Arris will own 65 percent of the company, which provides the backbone product, CloudTV, behind Charter's Spectrum Guide user interface.
Arris will serve as the sales channel for CloudTV, with the deal expected to close in the second quarter. Jeff Miller will continue to lead ActiveVideo as CEO.
Charter has deployed CloudTV within its Spectrum Guide, enabling the company to perform advanced user-interface processing at the service level so that older QAM-based set-tops don't have to be replaced.
Charter plans to expand this deployment with its acquired Bright House Networks systems once the Bright House purchase is closed.
"We have worked very closely with ActiveVideo on the development of this technology, and now, as a 35 percent shareholder, are uniquely positioned to support the continued innovation and marketplace adoption of ActiveVideo's solutions," said Tom Rutledge, president and CEO of Charter Communications.
- read this joint Arris/Charter press release
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