Pace Wins Queen's Award for International Trade

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Yorkshire-based digital TV technology developer scoops prestigious Queen’s Award for third consecutive year

April 21 2010

Pace plc (LSE:PIC), the leading independent developer of digital TV technologies for the global payTV industry, is proud to announce it has won a 2010 Queen’s Award for International Trade, in recognition of its outstanding business success in international markets. This prestigious accolade marks the third consecutive year Pace has been recognised in the Queen’s Awards for Enterprise, having won its first International Trade Award in 2008 and an Innovation Award in 2009. 

Over the last three years, Pace has delivered uninterrupted, record growth. Pace’s ability to pioneer new product development, and successfully bring it to market ahead of its competitors enabled it to realise over £69 million in profits on revenues of £1.1bn in 2009. Pace is now the world’s second largest supplier of set-top boxes for the global payTV market, rising from third largest after shipping over 17 million products in 2009.

Growing both organically and through the acquisition of Philips’ set-top box division in 2008, Pace’s success – and transformation into a truly global business - has been built on targeting the world’s largest payTV operators in markets where there is end-user demand for paid digital TV services. Pace now has over 100 customers, many of which are long-term business relationships. In the past three years it has expanded into new territories, winning major customer deals in Germany, Australia, Canada, Turkey, South Africa, Indonesia, Belgium, the Middle East, Spain, the Netherlands, French overseas territories and Poland.

Neil Gaydon, Chief Executive Officer of Pace plc, commented: “Pace has consistently executed against its strategy to build profitable relationships with the leading payTV operators around the world, be the world’s best set-top box company and position the company and its products at the heart of digital convergence within the home. Our ability to achieve fruitful long term relationships with customers, fuelled by the commitment and dedication of our people, has enabled us to continue growing, despite the economic issues around us.”

“We are immensely proud to receive this recognition in our home market. We have built a world-class engineering team at our headquarters in West Yorkshire, which, along with our centres of excellence in several key locations worldwide, is driving change in the digital TV market.”

Neil added: “For our customers, Pace doesn’t just deliver boxes. We provide a full service capability that includes strategic advice, product development, world class operational execution, and long-term technology direction. We have proven we’re able not only to develop incredibly advanced and innovative products, but successfully bring them to market and exceed the exacting demands of the world’s most demanding payTV operators.”

Contacts

Helen Kettleborough      
Pace plc        
+44 1274 538005    

Sarah West/Aideen Lee  
Brunswick
+44 20 7404 5959