Arris has completed its £1.4 billion (€1.9 billion) acquisition of UK-based set-top leader Pace, combining two of the world’s three biggest pay TV consumer premises equipment providers.
Arris said the deal gives it additional strength in the satellite segment and telco TV and expands its cloud, network, home and services portfolio.
Arris said the acquisition also strengthens its leadership position in hybrid fibre-coax products and optics, complementing its existing leadership in DOCSIS CMTS products. Pace acquired optical networking specialist Aurora Networks in 2014.
The new combined company is incorporated in the UK, with operational and worldwide headquarters remaining in Suwanee in Georgia, US.
Arris shareholders will own approximately 76% of the new company, with former Pace shareholders owning the remaining 24%.
Bob Stanzione will lead the combined organisation as Chairman and CEO. The Arris board of directors will remain unchanged.
Dave Potts will continue as EVP and CFO. Larry Margolis will lead integration of the combined organization as EVP of Corporate Strategy and Administration.
Larry Robinson and Bruce McClelland will continue to serve as presidents of their respective business units, which will maintain their current structure: CPE and Network and Cloud and Global Services. Ron Coppock will lead Arris’s new, dedicated international sales organization and continue to lead marketing, as President of International Sales and Global Marketing.
Tim O’Loughlin from Pace will serve as President, North American Sales. Jim Brennan will continue as SVP of Supply Chain and Quality, Patrick Macken as SVP, General Counsel and Secretary, and Vicki Brewster as SVP of Human Resources. Pace’s Phil Baldock will serve as Arris’s new SVP, CIO.
“Arris is investing in our industry’s next stage of growth. This acquisition enables us to scale our leadership and innovation to transform global entertainment and communications for millions of people,” said Stanzione.
“Our combined organisation unites two of the strongest leadership and engineering teams in the industry – giving us the scale, expertise, and technology to make Arris, more than ever before, the partner of choice for the world’s leading service providers. Together with our customers, we’re creating a world of connected, personalised entertainment and communications that blend seamlessly into our everyday lives.”
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21st February 2019