Pace merger with Arris delayed by competition hurdles

The merger between Pace and US peer Arris Group has been delayed due to outstanding antitrust clearance processes in Brazil, Colombia and the United States.

Pace, which provides set-top box technology and software to the pay TV and broadband service industries, said it now expected the merger to close in late December 2015 or the first quarter of 2016 rather than the final quarter of this year.

Chairman Allan Leighton said: "Whilst the potential delay to the date of completion is disappointing, the board of Pace believes that the strategic and economic rationale remains strong and reiterates its unanimous support for the combination.

"We continue to believe that the combination of the complementary Arris and Pace businesses will create a platform for future growth above and beyond our standalone potential.”