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Pace buys US box-maker 2Wire in a £307m deal
Pace, the world’s largest set-top box maker, has thrown down the gauntlet to internet TV providers by snapping up US broadband technology firm 2Wire for $475m (£307m).
The acquisition will allow it to broaden its customer base beyond cable and satellite into the rapidly expanding online TV market.
The British firm, which overtook Motorola to claim the top set-top box spot, said 2Wire supplied AT&T and the deal would catapult it to number three in the global home-hub market.
Pace chief executive Neil Gaydon said yesterday:?“2Wire, with its expertise in the broadband residential gateway market, will enable us to address a full range of US operator requirements.”