Pace Acquires Latens Systems For $46.5 Million

Author:
Publish date:
Updated on

U.K. set-top box and digital TV technology provider Pace plc has acquired Latens Systems Ltd, a Belfast-based software and conditional access specialist.

Under the terms of the deal, Pace will not pay more than $46.5 million (£28.75 million)  for Latens, with $16.2 million (£10 million) of the purchase price to be deferred and payable in 2012 according to what Pace is calling "the achievement of conditions."
The deal is the third acquisition announced this year by Pace, which also announced a bid for residential gateway provider 2Wire and a deal to buy Bewan, which also supplies gateways.
Those deals, combined with Latens, would strengthen Pace's position in the gateway and conditional access markets and also potentially in the U.S., where Latens supplies telcos with conditional access solutions.

Related