Terayon, Motorola merger on track to close after waiting period ends early

By Lisa Kerner

Charlotte, N.C., June 11 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the proposed merger of Terayon Communications Systems, Inc. and Motorola, Inc.

The merger is slated to close in the second or third quarter of 2007, according to a company news release.

On April 23, Motorola entered into a definitive merger agreement to acquire Terayon for $1.80 per share in cash in a transaction valued at about $140 million. The agreement includes a termination fee of $5.25 million.

Terayon is a Santa Clara, Calif., provider of real-time digital video networking applications to cable, satellite and telecommunication service providers.

Motorola is a wireless and broadband communications company based in Schaumburg, Ill.

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