Pace buys 2Wire for $475 m

Pace Chief Executive Neil Gaydon said, “we have built a strong position in the US with cable and satellite operators and 2Wire, with its expertise in the broadband residential gateway market, will enable us to address a full range of US operator requirements.” Pace posted pretax profit of 45.4 million pounds ($70.1 million) on 21 percent higher revenue of 635.2 million pounds in the six months to end-June, and said it was close to achieving its 8 percent operating-margin target.

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