Pace buying Philips set top division

WEST YORKSHIRE, England - Pace Micro Technology announced today that it has entered into a conditional agreement to acquire the set-top box and connectivity solutions business of Royal Philips Electronics. The Philips STB and CS Business employs approximately 335 staff predominantly based in France and is a designer and supplier of a range of digital TV products including satellite, cable, terrestrial and IPTV set-top box products. The proposed transaction values the business at up to £68 million. Pace and the Philips STB and CS Business each have over 20 years experience in the set-top box market. “The combined business will...