Pace buys French gateway maker
Pace said it plans to acquire Bewan Systems, a Paris-based IP and cable gateways specialist, for approximately $17 million.
Bewan has gateway products for both xDSL and cable DOCSIS 3.0 networks. Combined with Pace’s existing gateway business, the company said it will be able to offer converged gateway and digital TV solutions to pay-TV customers.
The purchase was conducted through Pace France, which Pace acquired last year.
Pace also released preliminary financial results. Pace doubled its annual revenue to approximately $1.6 billion and quadrupled pre-tax profit to $104 million. The company now claims to be the second-largest set-top maker based on global shipments.
The company attributed the gains to strong demand from pay-TV operators in all global markets, with volume shipments up 31 percent to 17.2 million set-top boxes, compounded by operating efficiencies.
The company said its customer list for its new hybrid PVR products includes Astro, Comcast, Viasat, Sky Germany, BT Vision, Net Brazil, Cablevision and UPC Broadband.
Malaysia’s Astro is a new customer. The company said it is providing the set-top box technology to support the launch of Malaysia’s first high-definition service, which launched in December 2009. Pace said Astro is its first HD customer in Asia.
Pace CEO Neil Gaydon said: “Pace remains at the forefront of the biggest changes taking place in digital home entertainment. The quality of, demand for and spend on digital home entertainment is growing. And we are ahead of the market in identifying and investing in new technologies to take advantage of this industry evolution. From 2010, high-definition will become more mainstream, and our operator customers will continue to invest in hybrid TV and bandwidth-hungry technologies such as 3-D, ultra-high-definition and whole-home entertainment systems.”