M&A Deal Summary

Pace Acquires Aurora Networks

On September 3, 2012, Pace acquired communications company Aurora Networks from TA Associates for 310M USD

Acquisition Highlights
  • This is Pace’s 2nd transaction in the Communications sector.
  • This is Pace’s 2nd largest (disclosed) transaction.
  • This is Pace’s 2nd transaction in the United States.
  • This is Pace’s 2nd transaction in California.

M&A Deal Summary

Date 2012-09-03
Target Aurora Networks
Sector Communications
Buyer(s) Pace
Sellers(s) TA Associates
Deal Type Add-on Acquisition
Deal Value 310M USD

Target

Aurora Networks

Santa Clara, California, United States
Aurora Networks is the only pure-play optical transport solution provider focused solely on cable network operators. The company’s broad array of optical network products and technology includes optical transmitters, node platforms and Ethernet equipment that deliver enhanced services and greater bandwidth to subscribers while reducing the cable operator’s total cost of ownership.

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Buyer(S) 1

Buyer

Pace

Saltaire, United Kingdom

Category Company
Founded 1982
Sector Technology Hardware
Employees2,300
Revenue 2.4B GBP (2012)
DESCRIPTION

Pace is a provider of technology solutions to the PayTV and Broadband industries. With a broad portfolio of customer premises equipment, network solutions, and software and services, Pace allows service providers to simply and cost-effectively innovate at the speed they want. Pace operates in markets across the world, with locations in the UK, USA, France, India, and China. Pace was formed in 1982 and is based in Saltaire, United Kingdom.


DEAL STATS #
Overall 4 of 5
Sector (Communications) 2 of 2
Type (Add-on Acquisition) 3 of 4
State (California) 2 of 2
Country (United States) 2 of 2
Year (2012) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-20 2Wire

San Jose, California, United States

2Wire, Inc. is a provider of integrated solutions to deliver broadband service and content throughout the home and small office.

Buy £307M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-04 Latens Systems

Belfast, United Kingdom

Latens Systems Ltd is a Pay-TV Conditional Access market using software-only cardless based security. Latens is part of the Pace Group of Companies.

Buy $47M

Seller(S) 1

SELLER

TA Associates

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TA Associates is a private equity firm that targets investments in middle-market and large companies around the world. TA will consider control or minority investments in profitable companies and looks to commit between $70 and $500 million per transaction. TA proactively reaches out to companies directly in sourcing potential investment opportunities. Prospective businesses are generally valued between $100 million and $3 billion. Areas of interest include technology, software, communications, financial services, healthcare, business services, semiconductors/electronics, and consumer products/services. In addition to investing equity capital, TA also makes subordinated debt investments. TA's geographic preference is North America, Asia/Pacific, and Europe. TA Associates was formed in 1968 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 161 of 255
Sector (Communications) 14 of 15
Type (Add-on Acquisition) 92 of 130
State (California) 25 of 30
Country (United States) 148 of 206
Year (2012) 7 of 9
Size (of disclosed) 38 of 67
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-03 Internationella Engelska Skolan

Stockholm, Sweden

Internationella Engelska Skolan is a chain of independent schools targeting primarily the compulsory school years (10-16 year-olds) combining discipline and high academic standards with a focus on the English language. The company is an independent operator of schools at the secondary level, with 19 schools across Sweden and more than 13,000 enrolled students. Internationella Engelska Skolan was formed in 1993 and is based in Stockholm, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-19 K2 Advisors

Stamford, Connecticut, United States

K2 Advisors is a fund of hedge funds with over $5.5 billion under management serving both institutional and private investors globally. The firm manages low volatility investment strategies designed to produce absolute returns with a low correlation to traditional equity and fixed income markets. K2’s clients are predominantly institutional investors who value K2’s thorough risk management process and security-level transparency.

Sell -