BUZZ- Arris Group Inc: To buy British set-top box maker Pace
** Communications equipment maker's shares up about 25 pct at $38.02 in extended trading
** Arris to buy British set-top box maker Pace Plc (Other OTC: PCMXF - news) in a $2.1 billion cash-and-stock deal
** Pace shareholders will receive 1.325 pounds ($2) in cash and 0.1455 shares of the combined company for each share held, or 4.265 pounds per Pace share
** Up to Wednesday's close, the stock had gained about 14 pct in the last 12 months