Set-top box maker Pace made a pre-tax profit of £45.4m in the first six months of 2010, up 46% compared to the same period last year.

Revenues in the period to 30 June were also up 21% to £635m.

The Yorkshire-based company said strong demand in global pay-TV markets and existing customers adding new platforms were contributing factors.

At the same time Pace has revealed that it is in the process of buying 2Wire, a US provider of advanced residential gateways and associated software and services for the broadband service provider market.

The deal is worth £308 million.

Chief executive Neil Gaydon said: “The results were produced despite some challenges within the supply chain, due to the skill of our operations teams, scale and strong supplier relationships.

“Pace has become the world’s leading supplier of digital set-top boxes, an achievement built on our deep understanding of the payTV operators’ business and market requirements and our ability to be first to deliver the technology that enables them to bring new services to market.

“With today’s announcement of our proposed acquisition of 2Wire, we expect to widen out our US customer base and opportunity as well as develop Pace’s technology capability.”

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