Monday, December 31, 2018

NETGEAR completes divestiture of its Arlo division

NETGEAR completed its previously announced distribution of 62,500,000 shares of Arlo common stock (NYSE: ARLO) owned by NETGEAR, representing approximately 84.2% of the outstanding shares of Arlo common stock. After the completion of the distribution, NETGEAR no longer owns any shares of Arlo common stock. In addition,  Patrick C.S. Lo resigned as a director of Arlo, and the Board of Directors of Arlo reduced the size of the board from seven to six.