Arris will acquire digital TV broadcast systems provider Tandberg Television in a move that will create an ascendant player in the digital media industry, Arris announced Jan. 15.

Arris will obtain outstanding shares of Tandberg Television for 96 Norwegian krone ($14.93) a share, valuing Tandberg at nearly $1.2 billion. The price represents a premium of nearly 50 percent of Tandberg’s recent 90-day trading average, the company said. The transaction is expected to be completed in the second quarter.

“By bringing together these two market leaders, we are able to expand on our vision to be the global leader in the provision of digital IP infrastructure and to enable voice, video and data to be delivered over integrated broadband networks from the content provider to the head-end to the home,” Bob Stanzione, chairman & CEO of Arris, said in a statement.