Philips sells share in Pace

April 20, 2009

The electronics manufacturer, Philips, has sold its stake in set top box maker Pace.

This would normally mean that one of the companies was heading for trouble, but industry experts are saying that the deal is good for both firms.

Philips made around £42 million from the sale of its share, which worked out to be a seventeen per cent stake in the set top box maker.

Pace produced around thirteen million boxes last year, which are used by BSkyB, Canal Plus and Comcast Corp.

The company has said that it is benefiting from the change in leisure activities throughout the world, as it seems that more people are staying at home and watching satellite TV than ever before.


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