Completion of Acquisition & Trading Update Notice

7 January 2014

Pace plc: Completion of Aurora Networks acquisition and Trading Update notification

Pace plc ("Pace" or the "Company") today confirms the completion of its acquisition of Aurora Networks, Inc. ("Aurora") (the "Acquisition").

On completion of the Acquisition, Pace paid Aurora shareholders US$323 million comprising a headline consideration of US$310 million (on a debt and cash free basis) plus a further US$13 million relating to tax benefits to be recovered over the three years post Acquisition.

The consideration for the Acquisition is subject to post-completion cash and working capital adjustments.

A five year term loan for $310m to finance the acquisition of Aurora Networks Inc plus a new five year $150m revolving credit facility is now in place.

Pace will make a 2013 full year Trading Update to the market on Thursday 9 January at 07:00 GMT.

-ends-

For further information please contact:

Pace

Roddy Murray +44 (0)1274 538 330

Chris Mather

J.P. Morgan Cazenove (Financial Adviser, Sponsor and Corporate Broker)

Hugo Baring +44 (0)207 742 4000

RLM Finsbury (Financial PR)

Charles Chichester +44 (0)207 251 3801

Notes to Editors

About Pace

Pace (LSE: PIC) creates technologies, software, hardware and services for the broadcast and broadband industries. Pace solutions empower cable, telco and satellite operators to simply and cost-effectively innovate at the speed they want, in the way they want for their subscribers. Pace has built up its experience and expertise over 30 years and this is recognized by a customer base of over 160 operators around the globe.

Headquartered in the UK, Pace operates in markets across the world, and employs around 2000 people in locations that also include the USA, France, India and China.

About Aurora

Aurora is a leading developer and manufacturer of advanced, next-generation Optical Transport and Access Network solutions for broadband networks that support the convergence of video, data and voice applications. Using its understanding of cable networks, the company delivers solutions such as its fibre deep architecture and digital return technology to help solve critical network bandwidth capacity constraints. Aurora's solutions offer best in class functionality, providing savings on power, space and operating expenses whilst leveraging existing network investments.