Saturday, 25 April 2015

Arris to acquire Pace for $2.1 bn

Arris Group Inc., a global innovator in IP, video and broadband technology, agreed to buy British set-top box maker Pace Plc for about $2.1 billion.
“The acquisition will combine two of the biggest equipment makers for telecommunications and cable companies in the U.S. and give Arris access to the satellite market. It will also reduce Arris’s non-GAAP tax rate to as low as 26 percent,” the company said in a statement.
The transaction will result in the formation of New ARRIS, which will be incorporated in the U.K., and its operational and worldwide headquarters will be in Suwanee, GA USA. New ARRIS is expected to be listed on the NASDAQ stock exchange under the ticker ARRS. 
The proposed transaction has been approved by the respective Boards of Directors of ARRIS and Pace and is expected to close in late 2015 after the satisfaction of customary closing conditions, including ARRIS and Pace shareholder approval and regulatory approvals.
ARRIS Chairman and CEO, Bob Stanzione will be New ARRIS Chairman and CEO and the then-current ARRIS Board of Directors will serve as the New ARRIS Board of Directors.    
"This transaction is another example of ARRIS's ongoing strategy of investing in the right opportunities to position our company for growth. Adding Pace's talent, products and diverse customer base will provide ARRIS with a large scale entry into the satellite segment broaden our portfolio and expand our global presence. We expect this merger will enable ARRIS to increase its speed of innovation. We believe this is a tremendous opportunity for ARRIS and our customers, employees, shareholders and partners around the world as we collaborate to invent the future," said Bob Stanzione. "We look forward to working with the talented and accomplished team at Pace."
- See more at: http://cablequest.org/news/technology-news/item/6855-arris-to-acquire-pace-for-$2-1-bn.html#sthash.Ptqrd5Vb.dpuf

Source: Arris Group Inc., a global innovator in IP, video and broadband technology, agreed to buy British set-top box maker Pace Plc for about $2.1 billion.
“The acquisition will combine two of the biggest equipment makers for telecommunications and cable companies in the U.S. and give Arris access to the satellite market. It will also reduce Arris’s non-GAAP tax rate to as low as 26 percent,” the company said in a statement.
The transaction will result in the formation of New ARRIS, which will be incorporated in the U.K., and its operational and worldwide headquarters will be in Suwanee, GA USA. New ARRIS is expected to be listed on the NASDAQ stock exchange under the ticker ARRS. 
The proposed transaction has been approved by the respective Boards of Directors of ARRIS and Pace and is expected to close in late 2015 after the satisfaction of customary closing conditions, including ARRIS and Pace shareholder approval and regulatory approvals.
ARRIS Chairman and CEO, Bob Stanzione will be New ARRIS Chairman and CEO and the then-current ARRIS Board of Directors will serve as the New ARRIS Board of Directors.    
"This transaction is another example of ARRIS's ongoing strategy of investing in the right opportunities to position our company for growth. Adding Pace's talent, products and diverse customer base will provide ARRIS with a large scale entry into the satellite segment broaden our portfolio and expand our global presence. We expect this merger will enable ARRIS to increase its speed of innovation. We believe this is a tremendous opportunity for ARRIS and our customers, employees, shareholders and partners around the world as we collaborate to invent the future," said Bob Stanzione. "We look forward to working with the talented and accomplished team at Pace."
Source: http://cablequest.org/news/technology-news/item/6855-arris-to-acquire-pace-for-$2-1-bn.html
Source: http://cablequest.org/news/technology-news/item/6855-arris-to-acquire-pace-for-$2-1-bn.html

Source: http://cablequest.org/news/technology-news/item/6855-arris-to-acquire-pace-for-$2-1-bn.html

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