10 Dec '12, 6pm

Pace looks to buy Motorola home business from Google - The potential acquisition of Google’s Motorola Home business ...

Pace has confirmed that it has submitted an indicative, non-binding, proposal to Google in respect of a potential acquisition of its Motorola Home business. "Discussions with Google are currently at a preliminary stage and there is no certainty as to whether any agreement regarding any transaction will be reached," said the UK-based set-box supplier. The potential acquisition of Google’s Motorola Home business would be classified as a "reverse takeover" under the UK Listing Rules given its size relative to Pace. As a result, the ordinary shares of Pace have been suspended from trading as of this afternoon. In a Q3 interim financial statement in November, the Company outlined that it is now expecting FY2012 revenues to be flat on FY2011 (2% underlying growth before the impact of HDD supply disruption) with increased operating margins of greater than 7%. The Company will pro...

Full article: http://www.electronicsweekly.com/Articles/10/12/2012/5518...

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