27th May 2005 14:05
Pace Micro Technology PLC27 May 2005 27 May 2005 Pace Micro Technology plc significantly expands US market penetration with new multi-year agreement with Comcast Pace Micro Technology plc, the world's largest dedicated developer of digitalset-top box technology, has today signed a new multi-year agreement with ComcastCorporation, the US's largest provider of cable, entertainment andcommunications products and services. Pace's agreement with Comcast, which supersedes an earlier agreement between thetwo companies, includes: • A commitment for a variety of Pace set-top boxes with a total price over a three-year period of between approximately $375 million and $550 million expected to be paid, depending upon the type of boxes ordered. • A development agreement whereby Pace and Comcast will jointly fund non-exclusive future technology development using Pace's development staff. • A licensing to Comcast of Pace's EngineWare software platform and related set-top box technology for use in the North American cable market. John Dyson, Pace's chief executive commented: "We are delighted to have securedthis new agreement with Comcast, the world's largest payTV operator. Inaddition to gaining a valuable set-top box supply commitment, we havedemonstrated that Pace's engineering excellence can support important payTVoperators in the development and delivery of their digital set-top box supplystrategy." For over six years Pace has made considerable investment in the US market, theworld's largest market for digital television technology. Pace can now see theprospect of significant payback on its US strategy, with revenues from thisagreement with Comcast expected to impact from the end of calendar 2005. Inaddition the agreement, which includes payment for the license to Pace'sEngineWare software platform removes the uncertainty over current year earningsreferred to in Pace's Interim Statement issued on 10th January 2005. Overall,today's announcement provides a solid foundation for the Company's future USbusiness, both with Comcast and other US cable companies, and helps underpinPace's existing expectations for the coming financial year. -ends- Media contacts Helen KettleboroughPace Micro Technology+44 1274 538005 Ginny Pulbrook/Ged BrumbyCitigate Dewe Rogerson020 7638 9571 About Comcast Comcast Corporation (Nasdaq: CMCSA, CMCSK) (http://www.comcast.com) is thenation's leading provider of cable, entertainment and communications productsand services. With 21.5 million cable customers, 7.4 million high-speed Internetcustomers, and 1.2 million voice customers, Comcast is principally involved inthe development, management and operation of broadband cable networks and in thedelivery of programming content. The Company's content networks and investments include E! EntertainmentTelevision, Style Network, The Golf Channel, Outdoor Life Network, G4, AZNTelevision, PBS KIDS Sprout, TV One and four regional Comcast SportsNets. TheCompany also has a majority ownership in Comcast-Spectacor, whose major holdingsinclude the Philadelphia Flyers NHL hockey team, the Philadelphia 76ers NBAbasketball team and two large multipurpose arenas in Philadelphia. Comcast ClassA common stock and Class A Special common stock trade on The NASDAQ Stock Marketunder the symbols CMCSA and CMCSK, respectively. About Pace Micro Technology plc Pace Micro Technology plc (LSE: pic.l) is a leader in digital televisiontechnology. The Company's primary focus is the development of innovative set-topbox solutions for operators, broadcasters, telecommunications companies andretail markets worldwide. Pace's head office is in Shipley, West Yorkshire, UK with other offices in USA,Hong Kong, Germany and France. For further information, please visit Pace's website at http://www.pacemicro.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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