CommScope is to create a separate its Home Networks business into an independent publicly traded company.
It’s one of a number of measures being taken to reduce operating costs across the company.
The Home Networks business includes much of the former ARRIS, acquired by CommScope in February 2019.
The separation is expected to be completed by the end of the first quarter of 2022 when the new company will be led by the current VP of the Home Networks division, Joe Chow.
“Since I joined CommScope last October, the Board and management team have been undertaking a comprehensive review of our portfolio of assets and how each contributes to our long-term growth strategy,” said Chuck Treadway, president and chief executive officer. “We believe that Home Networks will be better positioned to deliver superior home and consumer-oriented products as an independent company.”
Broadband Networks; Venue and Campus Networks and Outdoor Wireless Networks will remain with CommScope.
The company hopes that in addition to accelerating growth the spin-off will also make the company less complex.
