ARRIS Group to Acquire Digeo for $20M

Arris (s ARRS) announced today that it will acquire the assets of Digeo, Inc. for roughly $20 million in cash.
Kirkland, Wash.-based Digeo, which was founded by Paul Allen in 1999, was originally set up to deliver stock and sports information through set-top boxes. In 2002, the company received $110 million, part of which it used to purchase Moxi Digital, a move that pushed the company into the high-end DVR market.
Digeo hit a rough patch in January of 2008 when it laid off half its staff, changed its exec team and trimmed its product line. According to the Seattle Times, fewer than 10 of Digeo’s 75 employees will be laid off as a result of the Arris deal.
More details will be made available during a conference call tomorrow morning.