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Monday, December 10, 2012
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Pace Approaches Google Over Motorola Home Business
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British TV decoder maker Pace Plc on Monday confirmed that it has submitted an indicative, non-binding, proposal to Google in
respect of a potential acquisition of its Motorola Home business.
The British company says that discussions with Google are currently at a preliminary stage and that there is no certainty as to whether any agreement regarding any transaction will be reached.
Pace said its shares had been suspended from trading in London as the potential acquisition would be classified as a "reverse takeover" deal given the size of the acquisition relative to Pace.
The offer is one of several bids for the unit, including from private equity firms, that Google received on Friday. Arris Group, a cable equipment maker, also made a bid for the business, according to a report by Bloomberg.
Google's Motorola Home business designs, manufactures, sells, installs and services set-top boxes for digital and Internet protocol (IP) video, satellite and terrestrial broadcast networks, and Internet protocol television (IPTV) distribution systems, broadband access network infrastructure platforms, and associated software solutions to cable TV and telecommunication service providers. |
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