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Arris Group will acquire UK's Pace for $2.1B, shares surge
2015-04-23 09:10:09| Telecom - Topix.net
" Arris Group said Wednesday it will buy British set-top box maker Pace for $2.1 billion in cash and stock and reincorporate in the U.K. to cut its taxes. Arris posted $5.32 billion in revenue in 2014 and said the two companies will have about $8 billion in annual revenue combined.
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Arris to acquire Pace for USD 2.1 billion
2015-04-23 02:52:00| Telecompaper Headlines
(Telecompaper) Arris and Pace jointly announced that they have agreed that Arris will acquire Pace for a total stock and cash consideration of USD 2.1 billion. The transaction will result in the formation of New Arris, which will be incorporated in the UK, and its operational and worldwide headquarters will be in Suwanee, Georgia. New Arris is expected to be listed on the Nasdaq stock exchange under the ticker ARRS. Each current share of Arris will be exchanged for one share in New Arris. Under the terms of the agreement, Pace shareholders will receive GBP 1.325 of cash and 0.1455 New Arris shares for each Pace share. The cash portion will be funded through a combination of cash and debt. Arris has secured a fully committed facility from Bank of America Merrill Lynch to meet the funding requirements. The proposed transaction has been approved by the respective Boards of Directors of Arris and Pace and is expected to close in late 2015. Arris Chairman and CEO, Bob Stanzione will be New Arris Chairman and CEO.
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Pace bought by US-based Arris
2015-04-22 23:48:40| BBC News | Business | UK Edition
The maker of TV set-top boxes Pace is bought by US-based Arris for 1.4bn.
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ARRIS and Conax to Demo DASH Repackaging and Multi-DRM Encryption at NAB
2015-04-17 12:31:14| Industrial Newsroom - All News for Today
Conax will host a joint demonstration of ARRIS Spectrum SDC software and Conax multi-DRM in delivering next generation IP video SUWANEE, Ga. ARRIS Group Inc. (NASDAQ: ARRS) and Conax today announced they will be demonstrating the joint capabilities of ARRIS's DASH repackaging and Conax's multi-DRM encryption at...
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Arris, Charter to buy ActiveVideo for USD 135 mln
2015-04-14 13:19:00| Telecompaper Headlines
(Telecompaper) US cable operator Charter Communications formed a joint venture with equipment supplier Arris in order to buy the company ActiveVideo for USD 135 million. ActiveVideo's CloudTV platform helps TV service providers virtualise their customer premises equipment and deliver services such as user interface, online content and interactive ads from the cloud. Charter uses the platform to deliver its Spectrum Guide to customers, which is being rolled out on the Worldbox and other legacy set-top boxes in the Charter footprint. Arris will own 65 percent of the joint venture company and will be the sales channel for ActiveVideo's CloudTV platform. The company will market ActiveVideo to its existing portfolio of CPE customers, alongside its own cloud products. ActiveVideo's customer base already includes Cablevision, Liberty Global, Deutsche Telekom, Time Warner Cable, J:Com, Philips and Roku. Pending regulatory approval, the takeover is expected to close in Q2. Jeff Miller will continue to lead ActiveVideo as CEO.
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