Pace gains momentum with strong cash flow

Set-top provider Pace said that it has made continued momentum across the business in the last five and a half months and that improvements to its supply chain is producing “meaningful benefits.”

In an interim management statement, Pace said that it expects to retain a net cash position to the end of 2013 and, excluding acquisitions, expects that strong cash flow will continue.

“Wins with tier one customers reinforce our leadership position in pay TV hardware and our strategy of widening out our products and services continues to build momentum with wins and deployments across all of the regions we operate in,” said Pace CEO Mike Pulli.

He added that Pace’s October acquisition of Aurora Networks for US$310 million (€230 million) in cash “represents an important step in the evolution of Pace and enhances our strategy to widen out and build a broader platform from which to drive revenue.”

“Acquiring Aurora will allow Pace to expand beyond our core business and build deeper and more embedded relationships with our customers, which the company believes will strengthen Pace’s position as a market leading solutions provider for the pay TV and broadband industries,” added Pulli.