M&A Deal Summary

Motorola Solutions Acquires Tut Systems

On March 30, 2007, Motorola Solutions acquired communications company Tut Systems from First Analysis and Argentum Capital Partners for 39M USD

Acquisition Highlights
  • This is Motorola Solutions’ 3rd transaction in the Communications sector.
  • This is Motorola Solutions’ 6th largest (disclosed) transaction.
  • This is Motorola Solutions’ 3rd transaction in the United States.
  • This is Motorola Solutions’ 1st transaction in Oregon.

M&A Deal Summary

Date 2007-03-30
Target Tut Systems
Sector Communications
Buyer(s) Motorola Solutions
Sellers(s) First Analysis
Argentum Capital Partners
Deal Type Add-on Acquisition
Deal Value 39M USD

Target

Tut Systems

Lake Oswego, Oregon, United States
Tut Systems delivers advanced content processing and distribution products as well as comprehensive system integration services for deploying next-generation data and video services over broadband networks. Service providers, content providers, and government agencies worldwide use Tut Systems solutions to deliver broadcast-quality video over broadband networks.

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Buyer(S) 1

Buyer

Motorola Solutions

Chicago, Illinois, United States

Category Company
Founded 1928
Sector Technology Hardware
Employees21,000
Revenue 10.0B USD (2023)
DESCRIPTION
Entrance to Motorola Solutions' corporate campus in Schaumburg, Illinois.
Entrance to Motorola Solutions' corporate campus in Schaumburg, Illinois.

Motorola Solutions designs, manufactures, and sells communications infrastructure, devices, system software and applications, and provides services associated with their use. Motorola Solutions was founded in 1928 and is based in Chicago, Illinois.


DEAL STATS #
Overall 3 of 41
Sector (Communications) 3 of 9
Type (Add-on Acquisition) 2 of 37
State (Oregon) 1 of 1
Country (United States) 3 of 28
Year (2007) 2 of 3
Size (of disclosed) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-06 Netopia

Emeryville, California, United States

Netopia, Inc. develops and provides broadband customer premises networking equipment and carrier-class software for the remote management of broadband services and equipment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-20 Terayon Communication Systems

Santa Clara, California, United States

Terayon Communication Systems, Inc. is a digital-video equipment maker.

Buy -

Seller(S) 2

SELLER

First Analysis

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 1981
PE ASSETS 800M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

First Analysis is a financial advisory and investment firm. First Analysis' private equity arm targets investments in growth companies at all stages of development. The Group looks for opportunities based primarily in the US and can commit up to $10 million of equity per transaction. Sectors of particular interest include outsourced services, (business/government services, education, environmental services, healthcare services, marketing services); information technology, (business integration, call centers, healthcare IT, network security, open source, sensor systems, transaction processing); and chemistry enabled businesses (advanced materials, chemicals, healthcare products, polymers, purification). First Analysis was formed in 1981 and is based in Chicago, Illinois.


DEAL STATS #
Overall 34 of 71
Sector (Communications) 4 of 4
Type (Add-on Acquisition) 25 of 51
State (Oregon) 1 of 1
Country (United States) 34 of 70
Year (2007) 2 of 3
Size (of disclosed) 17 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-12 Witness Systems

Roswell, Georgia, United States

Witness Systems is a provider of business-rules-driven software for digital recording and evaluation of contact center customer interactions and Internet communications.

Sell $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-16 Metalico

Cranford, New Jersey, United States

Metalico, Inc. which operates scrap metal recycling facilities primarily in the eastern Great Lakes corridor.

Buy -
SELLER

Argentum Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1988
PE ASSETS 400M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Argentum Capital Partners is a private equity firm focused on investing in small to mid-sized companies with proven business models and the ability to become market leaders. Prospective transaction situations include growth capital financing, management buyouts, platform acquisitions, and recapitalization. The firm typically takes minority positions, except in the case of management buyouts. Industry sectors of interest include business services, healthcare, and technology. Argentum generally prefers opportunities located in the Eastern US, but will consider companies across the US. Argentum Capital Partners was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 19 of 44
Sector (Communications) 2 of 2
Type (Add-on Acquisition) 15 of 31
State (Oregon) 1 of 1
Country (United States) 18 of 42
Year (2007) 2 of 2
Size (of disclosed) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-09 Applied Data Systems

Columbia, Maryland, United States

Applied Data Systems, Inc. (ADS) designs and develops 'application-ready' embedded systems that provide core functionalities, including wireless, mobile, networked, sophisticated graphics, and Internet-connectivity for OEM markets. ADS delivers integrated hardware and software platforms that are seamlessly incorporated into end products, providing its customers minimized risk, accelerated time-to-market, reduced development costs, and enhanced design architecture. ADS' solutions include leading ARM/RISC technologies, including Intel StrongARM and next-generation XScale microprocessors, and RTOS/Windows CE and CE.NET/ Embedded Linux operating environments.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-13 Community Education Centers

West Caldwell, New Jersey, United States

Community Education Centers is a national provider of rehabilitative services for offenders through reentry and in-custody treatment programs as well as comprehensive management services for county, state, and federal correctional and detention facilities. CEC provides evidence-based programming for residential and non-residential clients through reentry and correctional facilities, in-prison treatment services, and outpatient and day reporting programs.

Buy -