Pace Sees Early Benefits From Philips Acquisition
[Satellite Today – 07-10-08] Pace expects to perform ahead of expectations over the next year, the company said July 10.
The set-top box manufacturer expects to benefit from a combination of a favorable exchange rate and stronger-than-expected performance of certain parts of its business.
Pace France, the renamed Philips set-top box and connectivity solutions business Pace acquired in April, in particular has benefited from these conditions, Pace said. Pace France initially was expected to post a loss in 2008 but now is profitable, and Pace expects that the company’s performance for the year will significantly exceed current expectations.