Shares in Pace increased by 10.5% yesterday after the set-top box developer announced a new contract for the US cable market. Pace will deliver a low cost digital to analogue converter that will be delivered to the mystery buyer, believed to be Comcast, over the next three years.
In a statement the Pace Board said it anticipated “the outturn for the year will materially exceed existing expectations”.
Shares reached 95p marking the latest stage of the turnaround of the Saltaire-based company. In April Pace purchased the set-top box division of Philips, which acquired a 21.6% stake following the completion of the transaction.
