ARRIS Group £1.4 billion acquisition of Pace

Overview:

• ARRIS Group, a broadband and communications provider, has acquired Pace, a tech company focused on broadband and Pay TV, for £1.4 billion in stock and cash.
• The deal will allow ARRIS to expand its operations outside of North America.
• The deal will see a new entity New ARRIS formed which is UK incorporated and listed on the Nasdaq.
• Bank of America Merrill Lynch acted as joint lead arranger on the $2.175 billion credit facility provided as part of the acquisition financing.

Sam Duke - Editor