Arris to buy British set-top box maker Pace in $2.1 billion deal

Network gear maker Arris Group Inc said it would buy British set-top box maker Pace Plc in a $2.1 billion cash-and-stock deal to expand its operations outside North America. The deal, which involves the creation of a new company that will be incorporated in the UK, will help Arris reduce corporate taxes. Arris said the deal will reduce its non-GAAP tax rate to about 26-28 percent. Arris Chief Executive Bob Stanzione said the combination would be able to better compete in an increasingly competit