Set-top box maker Pace has confirmed that it submitted an indicative, non-binding proposal to Google for the potential acquisition of Google's Motorola Home STB business. Because the move would be classified as a reverse takeover given Motorola Home's size relative to Pace, Pace's shares have been suspended from trading. They will resume trading either on sufficient information being provided publicly to shareholders or on an announcement confirming that Pace is no longer in talks about the acquisition. The announcement follows press reports that Google was close to picking a buyer and that Pace, Arris, Technicolor and private-equity firms were all in the running. Pace confirmed that it was on target to deliver on its strategic plan as outlined in November 2011. As announced last month, the company expects flat revenues for the current fiscal year (2 percent underlying growth before the impact of HDD supply disruption), with higher operating margins above 7 percent.
