JOB losses have not been ruled out at Saltaire-based TV set top box maker Pace plc as it prepares to be swallowed up by a US-based technology giant this year.

Pace currently has its global headquarters in Salts Mill where it employs around 400 product development specialists.

Shareholders heard at the company’s annual general meeting yesterday – the 20th and possibly last such gathering – that the proposed £1.4 billion takeover by the Georgia-based Arris Group Inc would provide Pace with faster growth and diversification and more opportunities for staff in a larger group.

The cash and shares deal would also expand Arris’ operations outside North America. Chairman Allan Leighton said: “The combination of the complementary Arris and Pace businesses will create a platform for future growth above and beyond our standalone potential. We believe this is a great fit for both companies, our employees, customers and trading partners.”

Mr Leighton said it would be for Arris to decide the future shape of operations at Saltaire, which will cease to be a global HQ.

Both he and chief executive Mike Pulli said redundancies could never be ruled out in a takeover but said Arris bosses were impressed with Pace’s staff and Saltaire operations.

Pace was already a lean business following major restructuring over three years and Arris had few UK overlapping operations.

Mr Leighton said the planned deal followed an approach by Arris. “We were merrily going about our business, and indeed had our own acquisition ambitions, when we were approached by Arris which wants to diversify and expand its operations. This is a great opportunity to grow and develop the business more quickly and widely than we could have dreamt of on our own.

“They (Arris) have very high respect for our people. We’ve been gaining share and our products are the best. We have talented people who have made that happen. That’s a big driver of this transaction which is a growth strategy.

“It will be for Arris to decide what happens at Saltaire in future but they are very impressed with the location in a World Heritage Site and with our operations here. The takeover will provide more opportunities for staff.”

Bob Stanzione, Arris chairman and chief executive, said: “This transaction is another example of Arris’s ongoing strategy of investing in the right opportunities to position our company for growth. “Adding Pace’s talent, products and diverse customer base will provide Arris with a large scale entry into the satellite segment, broaden our portfolio and expand our global presence.We look forward to working with the talented and accomplished team at Pace.”