ARRIS Group: All Merger Conditions Related To Pace Acquisition 'Have Now Been Met'

ARRIS Group, Inc. (NASDAQ: ARRS), a global innovator in broadband media technology, announced back in April it plans on acquiring U.K.-based Pace, a provider of technology solutions to the PayTV and Broadband industries, for $2.1 billion.

ARRIS stated in early December that is has received preliminary approval, without restrictions, for the deal to proceed. The pending acquisition took another step forward on Tuesday as ARRIS announced that the mandatory waiting period enforced by Brazil's competition authority has now expired.

ARRIS pointed out that the expiration implies all merger control closing conditions have "now been met."

Shares of ARRIS were relatively quiet during Tuesday's afternoon session, up just 0.22 percent at $29.69.