M&A Deal Summary

ADC Telecommunications Acquires Altitun AB

On May 1, 2000, ADC Telecommunications acquired semiconductors company Altitun AB from Kennet Partners for 872M USD

Acquisition Highlights
  • This is ADC Telecommunications’ 1st transaction in the Semiconductors sector.
  • This is ADC Telecommunications’ 3rd largest (disclosed) transaction.
  • This is ADC Telecommunications’ 1st transaction in Sweden.
Investment Fate
  • Altitun AB was divested to a consortium of strategic buyers in 2003 for 29M SEK.

M&A Deal Summary
Date 2000-05-01
Target Altitun AB
Sector Semiconductors
Buyer(s) ADC Telecommunications
Sellers(s) Kennet Partners
Deal Type Add-on Acquisition
Deal Value 872M USD

Target

Altitun AB

Stockholm, Sweden
website
Altitun developed and manufactured tunable semiconductor lasers for use in optical networking applications.

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Buyer(S) 1

Buyer

ADC Telecommunications

Eden Prairie, Minnesota, United States

website

Category Company
Founded 1935
Sector Communications
Employees9,300
DESCRIPTION

ADC Telecommunications, Inc. is a provider of broadband communications network infrastructure products and related services worldwide. ADC's innovative network infrastructure equipment and professional services enable high-speed Internet, data, video, and voice services to residential, business and mobile subscribers.

DEAL STATS #
Overall 10 of 16
Sector (Semiconductors) 1 of 1
Type (Add-on Acquisition) 10 of 15
Country (Sweden) 1 of 1
Year (2000) 1 of 3
Size (of disclosed) 3 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-10-08 Saville Systems

Galway, Ireland

Saville Systems Plc is a provider of convergent billing and customer care solutions for the telecommunications industry.

Buy $700M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-06-29 PairGain Technologies

Tustin, California, United States

PairGain Technologies, Inc. is a designer, manufacturer and seller of digital subscriber line (DSL) networking systems.

Buy $1.6B

Seller(S) 1

SELLER

Kennet Partners

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 1997
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Kennet Partners is a private investment firm that invests in fast-growing companies providing information technology products and technology-enabled services. Kennet typically commits $10 to $50 million of equity per transaction in companies with revenues up to $50 million. The Firm generally invests in businesses located in Western Europe and the US. In addition to providing growth capital, Kennet also finances private mergers, shareholder liquidity needs, corporate divestitures or spin-outs, and restructuring situations. Kennet Partners was formed in 1997 and is based in London.

DEAL STATS #
Overall 1 of 40
Sector (Semiconductors) 1 of 5
Type (Add-on Acquisition) 1 of 32
Country (Sweden) 1 of 1
Year (2000) 1 of 3
Size (of disclosed) 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-10-01 Altitun AB

Stockholm, Sweden

Altitun developed and manufactured tunable semiconductor lasers for use in optical networking applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-05-03 Aspective

Staines, United Kingdom

Aspective’s unique expertise in mobilizing enterprise applications makes it a strong fit for Vodafone’s recently announced strategy to offer seamless mobility solutions to its customers.

Buy -
Mergr

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