Pace has purchased optical transport and access network solutions provider Aurora Networks in a $310 million cash deal.
The company generated revenues of $217 million in the year ending March 31, 2013.
The deal allows Pace to further widen out its business beyond that of customer premises equipment as operators look for cost effective delivery of ever-increasing amounts of bandwidth.
Commenting on the Acquisition, Allan Leighton, Chairman of Pace, said there remained significant opportunity for the development of the core business. “The acquisition of Aurora represents an important evolution in this process and enhances our strategy to grow a broader platform across Hardware, Software and Services. Acquiring Aurora will allow Pace to expand beyond our core business and build deeper and more embedded relationships with our customers, which the Company believes will strengthen Pace’s position as a market leading solutions provider for the PayTV and broadband industries.”
Aurora will continue to be run by its existing management team, retaining the Aurora brand, and becoming a strategic business unit within Pace.
