BUZZ-Arris Group: Hits near 15-yr high on deal to buy UK's Pace

** Network gear maker's shares soars as much as 22.4 pct to a near 15 year high of $37.39

** Stock up 20 pct at $36.71 midday Thursday, a day after Arris said it would buy British set-top box maker Pace (Other OTC: PCMXF - news)

** Pace enjoys its best day in six years

** The $2.1 bln cash & stock deal will help Arris expand outside North America and reduce its tax rate

** Arris CEO says combined firm to better compete in the hot market for "over-the-top" telecom services, like video streaming

** Over 14 mln Arris shares traded, more than 10 times their 10-day average

** At least four brokerages raise price targets on stock