ARRIS International plc (NASDAQ:ARRS) Files An 8-K Regulation FD DisclosureItem 7.01 Regulation FD Disclosure.
The Board of Directors of ARRIS International plc ("ARRIS" or the Company") has authorized a $300 million increase in ARRIS' share repurchase program. With this increase, the total amount currently available for repurchases under the share repurchase program is $500 million. Unless terminated earlier by the Board, the repurchase plan will expire upon the earlier of ARRIS using all authorized funds for repurchases or the expiration of the shareholder authorization for share repurchases in January 2021. ARRIS previously reported that during the fiscal year of 2017, the Company repurchased 7.5 million ordinary shares for $197.0 million at an average stock price of $26.12. To date in 2018, ARRIS has repurchased an additional 0.99 million ordinary shares for $25 million at an average share price of $25.34.
About ARRIS International plc (NASDAQ:ARRS)
ARRIS International plc focuses on entertainment and communications technology. The Company operates in two segments: Customer Premises Equipment (CPE), and Network & Cloud (N&C). The CPE segment’s products include Set-Top, Gateway, digital subscriber line (DSL) and Cable Modem, and Embedded Multimedia Terminal Adapter (E-MTA) and Voice/Data Modem. The N&C segment includes various products, such as Infrastructure Products, Global Services and Cloud Solutions. It enables service providers, including cable, telephone, and digital broadcast satellite operators, and media programmers to deliver media, voice and Internet Protocol (IP) data services to their subscribers. It is engaged in offering set-tops, digital video and Internet Protocol Television (IPTV) distribution systems, broadband access infrastructure platforms, and associated data and voice CPE, which it also sells directly to consumers through retail channels.
