Markets in brief: Pace; Tracsis
SET-top box maker and pay TV and broadband technology provider Pace, which announced last month it has bought Aurora Networks for £192m, said today it has seen continued momentum across the business and is looking towards 2014 with confidence.
Saltaire-based Pace said that in the period 1 July 2013 to 13 November, the company’s trading has shown good progress.
Updating the market today, it said revenue in the period, as expected, was lower than the same period in 2012, reflecting the impact of dual-sourcing of Media Server supply by a large North American satellite customer.
It said revenues for this financial year are expected to be broadly in-line with 2012.
Chief executive Mike Pulli said: “Following a strong first half in 2013, Pace has made further good progress in the period with continued momentum across the business.
“The transformation of our supply chain is nearly complete and we are seeing meaningful benefits both operationally and financially. Wins with tier one customers reinforce our leadership position in PayTV hardware and our strategy of widening out our products and services continues to build momentum with wins and deployments across all of the regions we operate in.”
He added: “The acquisition of Aurora represents an important step in the evolution of Pace and enhances our strategy to widen out and build a broader platform from which to drive revenue. Acquiring Aurora will allow Pace to expand beyond our core business and build deeper and more embedded relationships with our customers, which the Company believes will strengthen Pace’s position as a market leading solutions provider for the PayTV and broadband industries.
“We are confident about our trajectory and remain firmly focused on closing out the year and then making further progress in 2014.”
:::
TRACSIS, a provider of software and technology led products and services for the transportation industry, has been awarded a feasibility pilot project with a major North American railroad company for potential adoption of its remote condition monitoring technology.
The project will cover five sites within the US, which should conclude within six months, and is being delivered in collaboration with a US based technology partner following a successful tendering process.
The value of this project was undisclosed.
“This award is a significant step forward in the next phase of the company’s overseas growth strategy although Tracsis is keen to stress that at this point in time the feasibility project has no guarantee of future sales,” the company said.
