ARRIS Nails Down Pace Deal

ARRIS (NASDAQ:ARRS) has completed its $2.1 billion stock and cash (£1.4 billion) acquisition of Pace (LSE:PIC). The newly combined company is incorporated in the UK, with operational and worldwide headquarters remaining in Suwanee, GA. ARRIS shareholders will own approximately 76% of the new company, with former Pace shareholders owning the remaining 24%. ARRIS CEO Bob Stanzione will lead the combined organization as chairman and CEO. The ARRIS board of directors will remain unchanged.

The transaction is intended to expand ARRIS's worldwide CPE market share with a competitive stake in satellite communications; leveraging new synergies in telco TV; expanding its cloud, network, home, and services portfolio; and increasing its collaboration with service providers worldwide. The combination is also intended to expand ARRIS' position in HFC/optics, complementing its established CMTS business.