Pace purchases French company
Pace has a plan: to further its position as the world's largest dedicated developer of digital television gateways. The company is pursuing that goal by purchasing French company Xcom Multimedia Communications.
Xcom manufactures digital set-tops and has a client base in Europe, Asia and the Middle East. The company has also developed technology to bring free-to-air encrypted digital TV services into non-pay TV homes and secondary TVs with the digital TV adapter (DTVA).
"They [Xcom] have developed a leading product for analogue switch-off, and will further expand Pace's overseas revenues," Malcolm Miller, Chief Executive of Pace Micro Technology, said in a statement. "The new products and customers, benefiting from Pace's technology portfolio, will provide further immediate revenue and profit opportunities for the [Pace] group,"
According to the company, Pace analogue and digital technology has been installed in over eleven million homes worldwide. The company is involved in all digital platforms - satellite, terrestrial, cable, wireless and xDSL
After complex conversions of stock and cash, UK-based Pace will acquire Xcom for approximately $27 million.