The outcome of the transaction will result in the creation of one of the largest set-top-box players in the world at a time when the shift from analogue to digital TV is rapidly increasing. Commenting on the sale, Philippe Alcaras, business unit leader Philips Home Networks, said in a prepared statement: We feel that the rapidly changing dynamics of the markets in which the STB and CS businesses operate will inevitably culminate in further industry consolidation.

By striking a deal with Pace now, we gain the first-mover advantage and it shows Philips’ determination to secure a leading role for our businesses, and make them even more relevant to our customers and technology partners.

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