Back in April, Arris proposed to buy Pace for $2.1 billion, a deal that would give Arris entrée into the satellite business. Since April, Arris has been seeking approval from regulatory agencies around the world, already getting the go ahead from Germany, South Africa and Portugal. Today, Colombia joined that group, as its Superintendence of Industry and Commerce approved the deal.
However, the deal is still waiting approval from the U.S. Department of Justice, which recently said Arris might need to divest part of its optical transmission business in order to get full approval for the deal stateside.
Arris hopes to close the deal in the fourth quarter of this year, or very early in the first quarter of next year. If it happens this year, it should do a lot to improve the downturn in revenues Arris experienced in the third quarter.
Filed Under: Industry regulations