Pace and 2Wire today announced that the companies have reached an agreement under which Pace proposes to acquire 2Wire for cash consideration of $475 million. The consideration includes 2Wire’s balance sheet cash at closing, expected to be approximately $55 million.

“This acquisition will strengthen our Americas business, extending Pace’s U.S. market coverage with entry into the tier one telco market," said Neil Gaydon, CEO of Pace, in a statement.  "We have built a strong position in the United States with cable and satellite operators and 2Wire, with its expertise in the broadband residential gateway market, will enable us to address a full range of U.S. operator requirements.”

2Wire is currently owned by a consortium of strategic and financial investors including Alcatel-Lucent, AT&T, Telmex, Oak Investment Partners, Meritech Capital Partners, and Technology Crossover Ventures.

The transaction is conditional on (amongst other things) the approval of the shareholders of Pace and 2Wire and regulatory approvals. It is anticipated that the transaction will be completed during the fourth quarter of 2010.

The Daily

Subscribe

Next Frontier: CableLabs Explores More than Speed Connectivity Era

Internet speed records are all the rage these days, with two separate breakthroughs making the headlines recently. One is more in the distant future, but the other hits closer to home.

Read the Full Issue
The Skinny is delivered on Tuesday and focuses on the cable profession. You'll stay in the know on the headlines, topics and special issues you value most. Sign Up

Calendar

Sep 11
2025 Faxies Awards Faxies Nominations Open! Final deadline: 4/4/25
Full Calendar

Jobs

Seeking an INDUSTRY JOB or hiring for one?
VIEW JOBS

In conjunction with our sister brand, Cynopsis, we are offering hiring managers a deep pool of media-savvy, skilled candidates at a range of experience levels and sectors. The result will be an even more robust industry job board, to help both employers and job seekers.

Contact Carley Ashley, [email protected], for more information about posting a job on the website and our Jobs newsletter, sent twice weekly to 85,000 media professionals.