Pace acquires Philips STB unit
Philips Electronics has reached an agreement in principle to sell its Set-Top Boxes (STB) and Connectivity Solutions (CS) businesses to UK-based technology provider Pace Micro Technology. Philips will sell the businesses to Pace in exchange for 70 million Pace shares. Philips will retain 22.5 per cent of the enlarged share capital of Pace. The deal […]