Pace plc

{{Infobox company

| name = Pace plc

| logo = Pace plc-logo.png

| logo_size = 105px

| type = Subsidiary

| traded_as = {{lSE was|PIC}}
OTC Gray: PCMXF

| fate = Acquired by Arris Group

| key_people = Allan Leighton (chairman)
Mike Pulli (CEO)

| industry = Information technology

| products = set-top boxes, media servers, residential gateways, Elements software platform, ECO service management, optical networking

| revenue = $2,620.0 million (2014){{cite web|url=http://www.pace.com/Documents/Investors/ra_2014/ra_2014.pdf|title= Annual Report 2014|publisher=Pace plc|access-date=31 March 2015}}

| operating_income = $180.9 million (2014)

| net_income = $148.0 million (2014)

| num_employees =

| homepage = {{URL |www.pace.com}}

| foundation = {{start date and age|1982}}

| founder = {{ubl|David Hood|Barry Rubery|Robert Fleming}}

| location = Saltaire, West Yorkshire, England

}}

Pace plc was a British company which developed set-top boxes (STBs), advanced residential gateways, software and services for the pay-TV and broadband services industry. Pace's customers included cable, telco, satellite and IPTV operators. The company was listed on the London Stock Exchange until December 2015, when the company received the last of the regulatory clearances needed to allow a merger with Arris Group to proceed. In 2019, Arris was subsequently acquired by network infrastructure provider CommScope.{{cite web|first=Daniel |last=Frankel |title=CommScope Closes $7.4B Arris Purchase|url=https://www.nexttv.com/news/commscope-closes-arris-purchase|access-date=9 July 2021|website=Multichannel News|date=4 April 2019 }}

History

The company was founded by Yorkshire born businessmen Barry Rubery, David Hood and Robert Fleming in 1982, taking the name Pace Micro Supplies in 1983, eventually being renamed to Pace Micro Technology plc in 1987.{{ cite web | url=https://find-and-update.company-information.service.gov.uk/company/01672847 | title=ARRIS GLOBAL LTD. | website=Companies House | access-date=5 May 2022 }} It introduced the first low cost commercially available modems in 1985.{{citation needed|date=May 2022|reason=This is absent from the archived corporate history page.}} In 1987, it started selling its first analogue satellite set top receivers.{{ cite magazine | url=https://archive.org/details/AcornUser217-Feb00/page/n19/mode/2up | title=Keeping Pace with technology | magazine=Acorn User | last=Sutton | first=Colin | date=February 2000 | access-date=5 May 2022 | pages=20–21 }} In 1996, it introduced the world's first DVB decoders, for Australian satellite company Galaxy.{{ cite web |url=http://www.pace.com/global/about-pace/history/ |title=Corporate History |website=Pace plc |access-date=5 May 2022 |archive-url=https://web.archive.org/web/20140309101036/http://www.pace.com/global/about-pace/history/ |archive-date=9 March 2014 |url-status=dead}}

Pace was floated on the London Stock Exchange in 1996. In 1998, the company started shipping digital satellite television equipment for BSkyB.{{citation needed|date=May 2022|reason=This was presumably in some older version of the corporate history, but it is not featured in the available archived version.}} In January 1999, Pace purchased the set top box division of Acorn Computers,{{ cite web | url=https://find-and-update.company-information.service.gov.uk/company/01672847/filing-history/MTI0NzYxNzIxYWRpcXprY3g/document?format=pdf&download=0 | title=Pace Micro Technology plc Annual Report & Accounts 1999 | website=Companies House | date=10 September 1999 | access-date=28 December 2024 }} and converted it into its office in Cambridge. In the following years, Pace owned the operating system RISC OS, and used technologies based on it in its decoder equipment. The office in Cambridge was closed in March 2003.{{ cite web | url=http://www.drobe.co.uk/riscos/artifact604.html | title=Redundancies at Cambridge Pace office| last=Naulls | first=Peter | date=27 March 2003 | publisher=Drobe | accessdate=16 August 2023 | archive-url=https://web.archive.org/web/20030419095549/http://www.drobe.co.uk/riscos/artifact604.html | archive-date=19 April 2003 | url-status=dead}} With Pace focusing on the digital television market, Pace's modem business had been separated from the parent company as the result of a management buy-out, but this new company, PMC Electronics, was placed into receivership in August 1999.

Pace started delivering products to Comcast in the United States in June 2000; the company also delivers to AT&T and DirecTV.[http://www.allbusiness.com/electronics/telecommunications-equipment/6538784-1.html Pace to Supply Digital Set Top Boxes to Comcast Cable] Business Wire, 26 June 2000 In 2001, Pace announced that it was outsourcing the last of the manufacturing capacity which remained at its location in Saltaire: the head office was reduced to an administration and development centre.[http://www.allbusiness.com/company-activities-management/company-strategy-outsourcing/5019973-1.html Gordon Brown investigates China] Business Wire, 23 February 2005

Image:Pace DC757X cable box mod.jpg]]

In March 2002, Pace became the first company to market free-to-view personal video recorders (PVRs).[http://www.automatedhome.co.uk/TV/Pace-Launches-Digital-Free-to-View-PVR.html Pace launches Digital Free to View PVR] Automated Home, 25 September 2002 In February 2005, Pace in conjunction with Australian subscription television provider Foxtel launched the first DVB-C PVR.[http://findarticles.com/p/articles/mi_m0EIN/is_2005_Feb_21/ai_n9774932 Pace to Launch World's First DVB Cable PDR for payTV] Business Wire, 21 February 2005 In April 2006, Neil Gaydon became CEO, taking over from John Dyson, and Mike McTighe became the chairman, taking over from Sir Michael Bett.[http://www.cedmagazine.com/gaydon-named-pace-ceo.aspx Gaydon named Pace CEO] {{webarchive|url=https://web.archive.org/web/20110609133048/http://www.cedmagazine.com/gaydon-named-pace-ceo.aspx |date=9 June 2011 }} CED Magazine, 5 April 2006

In April 2008, Pace acquired the 'Set-Top Box and Connectivity Solutions' division of Royal Philips Electronics, approximately doubling the size of the company.[https://web.archive.org/web/20110612062945/http://business.timesonline.co.uk/tol/business/industry_sectors/technology/article3072875.ece Pace buys Philips set top box business] The Times Online, 19 December 2007 In May 2008, Pace changed its name from Pace Micro Technology plc to Pace plc.{{cite web|url=http://www.corporateinformation.com/Company-Snapshot.aspx?cusip=C82688160|title=Pace Plc (PIC) Company Profile - CorporateInformation.com|work=corporateinformation.com|access-date=31 March 2015}}

In July 2010, Pace acquired home networking equipment maker 2Wire, which was based in the United States,{{cite news |url= https://www.bbc.co.uk/news/business-10760336|title=Pace to buy US broadband company|website=BBC News|date=26 July 2010|access-date= 1 August 2011 }} IP and Cable specialist, Bewan Systems SA[http://www.lightreading.com/document.asp?doc_id=188552&site=lr_cable Pace Ups Tempo With Bewan Buy] Light Reading, 2 March 2010 and pay television software specialist, Latens Systems.[http://www.yorkshirepost.co.uk/business/business-news/pace_buys_irish_software_company_1_3024101 Pace buys Irish software company] Yorkshire Post, 4 November 2010 In June 2011, Allan Leighton became chairman.[http://www.pace.com/universal/news-events/press-releases/2011/allan-leighton-confirmed-as-pace-chairman/ Allan Leighton confirmed as Pace plc Chairman] Pace, 21 June 2011 In December 2011, Neil Gaydon was replaced as CEO by Mike Pulli, formerly president of Pace Americas{{cite news|title=US boss takes over as head of Pace|url=http://www.yorkshirepost.co.uk/business/business-news/us_boss_takes_over_as_head_of_pace_1_4061036|access-date=16 December 2011|newspaper=The Yorkshire Post|date=15 December 2011}}

A significant milestone was reached in 2012, when Pace sold its one hundred millionth digital set top box. In January 2014, Pace completed the acquisition of Aurora Networks, a leading developer and manufacturer of advanced, next generation optical transport and access network solutions for broadband networks.{{cite news|title=Pace Completes $323 Mln Acquisition Of Aurora Networks; Stock Rises|url=http://www.rttnews.com/2247565/pace-completes-323-mln-acquisition-of-aurora-networks-stock-rises.aspx|access-date=16 June 2017|work=RTT News|date=7 January 2014}}

On 22 April 2015, the Boards of Pace and Arris Group announced that they had reached agreement on the terms of a recommended combination of Pace with Arris, in a stock and cash deal that valued Pace at UKP £1.4Bn (US$2.1Bn). The combination was conditional on, amongst other things, shareholder approval from both Pace and Arris shareholders and also the receipt of merger control clearances in a number of jurisdictions including Brazil, Colombia, Germany, Portugal, South Africa and the United States.

The company received the last of the regulatory clearances needed to allow the merger to proceed in December 2015.{{cite web |url= http://www.digitaltveurope.net/469532/brazil-green-light-clears-way-for-arris-completion-of-pace-deal/ |title=Brazil green light clears way for Arris completion of Pace deal |date=3 December 2015 |publisher=Digital Europe |access-date=27 December 2015}} The acquisition was completed on 4 January 2016. The resultant combined group is incorporated in the United Kingdom, but operationally managed from the United States, and is owned 24% by Pace shareholders and 76% by Arris shareholders.{{cite web |url= http://otp.investis.com/clients/uk/pace/rns/regulatory-story.aspx?cid=541&newsid=506958 |title=Recommended Combination of Pace and ARRIS |publisher=Pace plc |date=22 April 2015 |access-date=22 April 2015}}{{cite web |url=http://ir.arris.com/phoenix.zhtml?c=87823&p=irol-newsArticle&ID=2126035 |title=ARRIS Completes Pace Acquisition: Combined companies to transform video and broadband delivery through broadened portfolio, global footprint, and customer base |type=press release |website=Arris official website |publisher=Arris |date=4 January 2016 |access-date=2 November 2016 |archive-date=23 January 2016 |archive-url=https://web.archive.org/web/20160123030347/http://ir.arris.com/phoenix.zhtml?c=87823&p=irol-newsArticle&ID=2126035 |url-status=dead }}

Operations

Pace's head office was in Saltaire, near Bradford in West Yorkshire. It occupied a large proportion of the Victorian textile mill complex called Salt's Mill. The company had major operations in the United States, France and India, as well as the United Kingdom HQ.