M&A Deal Summary

The Gores Group Acquires Imagine Communications

On December 4, 2013, private equity firm The Gores Group acquired technology hardware company Imagine Communications from L3Harris

Acquisition Highlights
  • This is The Gores Group’s 4th transaction in the Technology Hardware sector.
  • This is The Gores Group’s 54th transaction in the United States.
  • This is The Gores Group’s 6th transaction in Texas.

M&A Deal Summary

Date 2013-12-04
Target Imagine Communications
Sector Technology Hardware
Buyer(s) The Gores Group
Sellers(s) L3Harris
Deal Type Divestiture

Target

Imagine Communications

Plano, Texas, United States
Imagine Communications is a developer of advanced broadband video processing equipment. The company's technology enables on-demand, interactive and personalized television broadcasting for improved bandwidth, enhanced video quality, targeted ads and personalized audio. Imagine Communications was founded in 2005 and is based in Plano, Texas.

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Buyer(S) 1

Buyer

The Gores Group

Beverly Hills, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION
The Gores Group's headquarters in Beverly Hills, California.
The Gores Group's headquarters in Beverly Hills, California.

The Gores Group is a private equity firm focused on acquiring controlling interests in mature and growing businesses. Gores considers investments across Europe and North America and typically seeks non-core assets of public corporations. While Gores is a generalist investor, the firm has a particular interest in technology, telecommunications, business services, and industrial companies. The Gores Group was formed in 1987 and has offices in Beverly Hills, California, and Boulder, Colorado.


DEAL STATS #
Overall 64 of 74
Sector (Technology Hardware) 4 of 4
Type (Divestiture) 32 of 36
State (Texas) 6 of 6
Country (United States) 54 of 61
Year (2013) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-12 Enterasys Networks

Andover, Massachusetts, United States

Enterasys Networks is a provider of Secure Networks for enterprise customers. Enterasys' innovative network infrastructure offerings deliver the security, productivity and adaptability benefits required by Global 2000 organizations, coupled with the industry's strongest service and support.

Sell $180M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-22 Zmags

Boston, Massachusetts, United States

Zmags is a digital publishing and eCommerce Software-as-a-Service solutions with additional offices in Copenhagen, Denmark and London, United Kingdom. The company’s self-service platform creates immersive brand and commerce experiences across all digital media including tablet, mobile, social and web channels. Zmags is based in Boston, Massachusetts.

Buy -

Seller(S) 1

SELLER

L3Harris

Melbourne, Florida, United States

Category Company
Founded 1895
Sector Defense
Employees47,000
Revenue 19.4B USD (2023)
DESCRIPTION
Entrance to L3Harris' corporate headquarters in Melbourne, Florida.
Entrance to L3Harris' corporate headquarters in Melbourne, Florida.

L3 Harris is a producer of communications products, systems and services for global markets, including RF communications, integrated network solutions and government communications systems. L3Harris Technologies was founded in 1895 and is based in Melbourne, Florida.


DEAL STATS #
Overall 7 of 23
Sector (Technology Hardware) 2 of 3
Type (Divestiture) 6 of 22
State (Texas) 1 of 2
Country (United States) 7 of 23
Year (2013) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-04 GatesAir

Mason, Ohio, United States

GatesAir provides complete solutions for over-the-air radio and television broadcasting, leveraging wireless spectrum to maximize performance for multichannel, mission-critical services. Powering over-the-air networks worldwide with unparalleled reliability for 100 years, the company's turnkey solutions enable broadcasters to create, transport, and transmit radio and TV content. With customers in more than 185 countries, it leads the industry in innovation and design breakthroughs, improving efficiency and reducing the total cost of ownership with all products designed and assembled in the USA. GatesAir was formed in 1922 and is based in Mason, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-06 Exelis

McLean, Virginia, United States

Exelis, Inc. is a global aerospace, defense and information solutions company. Exelis is a provider in positioning and navigation, sensors, air traffic management solutions, image processing and distribution, communications and information systems, and focused on strategic growth in the areas of critical networks, ISR and analytics, electronic warfare and composite aerostructures.

Buy $4.8B