Arris Puts Up $2.1B for Pace

Deal arrives about two years after Arris sealed Motorola Home buy
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Almost two years after sealing up $2.35 billion acquisition of Motorola Home, Arris is diving deeply into the M&A pool with a $2.1 billion deal for U.K.-based Pace plc, a deal that will give it a dominant share of the set-top box market.

Arris said the deal will accelerate its growth strategy and generate more scale, creating a behemoth with $8 billion in pro forma revenues, 8,500 combined employees and an enhanced international presence. Both Arris and Pace are positioned well at Comcast, as they both supply devices for the MSO’s next-gen X1 platform.

Arris said the deal, involving a mixture of cash and stock, will result in the formation of “New Arris,” which will be incorporated in the U.K., and have its operational and worldwide headquarters based in Suwanee, Ga. New Arris will trade on the NASDAQ under the “ARRS” ticker, they said.

For the full story go to Multichannel.com.

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