23rd Apr 2008 10:09
Pace Micro Technology Plc23 April 2008 Pace Micro Technology plc AGM and Interim Management Statement Saltaire, UK, 23 April 2008: Mike McTighe, Chairman of Pace Micro Technologyplc, a leading technology developer for the global payTV industry, will give thefollowing update at the Company's Annual General Meeting later today: "On behalf of the Board I am pleased to update shareholders that we areconfident in our expectations for the Pace business for 2008. This is due to theGroup's ongoing strong execution, excellent customer relationships, growingportfolio of products and technologies and beneficial impact of the company'soperating model. "Our acquisition of the Set-top box and Connectivity Solutions Business of RoyalPhilips Electronics completed on 21 April on the revised terms that wereannounced on 31 March 2008. This transaction has further strengthened theGroup's market position by extending its global customer base and product range.The management team has commenced implementation of its integration plan for therenamed Pace France business. "Pace's success in global markets was this week recognised with a Queens Awardfor International Trade. This is an important achievement and recognises theGroup's success in overseas markets, where exports have increased by 251% overthree years. "Factors driving growth continue to be competition between payTV providers, newdelivery systems, analogue switch off and ongoing demand for high definition(HD) content as increasing numbers of consumers purchase new flat paneltelevision displays. Pace sees opportunities across all of its target marketswith HD gaining momentum in European and other world markets, following the leadof the US. Pace is developing HD products for the majority of its payTV operatorcustomers, which currently include Multichoice and the Modern Times Group'sViasat Broadcasting where Pace will be its HD PVR launch partner. "So far 2008 has been exciting for Pace, through our acquisition of the PhilipsSet-Top Box and Connectivity Solutions Business and ongoing strong performancein the global market for set-top box technology." -ends- Contacts Tim Williamson/Sarah West Helen KettleboroughBrunswick Pace Micro Technology+44 20 7404 5959 +44 1274 538005 About Pace Micro Technology Pace Micro Technology plc (pic.l) is a leading technology developer for theglobal payTV industry. Pace's main focus is on creating intelligent andinnovative products and services that benefit our customers and fuel thedevelopment of digital TV. Over the last 25 years, Pace has developed one of theworld's most experienced specialist engineering teams and is now the partner ofchoice for leading payTV operators across the globe. Pace's international headquarters are in Saltaire, West Yorkshire, UK, withfurther offices in the USA, France, India and Hong Kong. For more information onPace, please visit www.pacemicro.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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