Network video equipment maker Arris Group, which acquired switched digital video vendor C-COR Systems for $730 million in a deal that closed late last week, is restructuring into three new business units and cutting jobs that amount to less than 5 percent of the combined company staff of 2,000. The three new units include a broadband communications group; an access, transport, and supplies unit; and a media and communication systems team.
The re-grouping came as UBS lowered its outlook for Arris Group as a result of the toughening cable market climate. Arris Group shares hit a 52-week low yesterday.
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Arris announced the C-COR acquisition in September