Pace in talks to buy Motorola set-top box division from Google
10th Dec 2012 | 23:05
A buyer, have we?
British manufacturer Pace confirmed on Monday that it's opened discussions with Google over the potential purchase of Motorola's set-top box unit.
It was previously reported earlier that the search giant is ready to offload the Motorola Home arm of the company, acquired alongside the mobile business in the multi-billion dollar buyout last year.
The apparent willingness to sell may be seen as a sign that Google is preparing to jettison its largely disastrous Google TV experiment, or simply rely on companies other than Moto to build the boxes.
However, one man's trash is another man's treasure and Pace is currently attempting to strengthen its presence in the States, where Motorola has a great relationship with cable companies.
No deal yet
Pace admitted that it has entered talks with Google over a potential $2 billion (UK£1.2 billion, AU$1.9 billion) purchase, although claimed a deal is far from complete.
In a statement, the Yorkshire-based company said: "Discussions with Google are currently at a preliminary stage and there is no certainty as to whether any agreement regarding any transaction will be reached."
Following the news, trading on Pace shares has now been suspended. As the company is smaller than the profit-making Motorola Home unit, the buyout would be seen as a reverse takeover under U.K. law.
The Guardian is reporting that at least two other companies - Arris Group and Technicolor SA - are also preparing rival bids.