Private-equity firm TA Associates acquired a minority stake in Aurora Networks, a vendor of optical-network equipment for cable operators.
Terms of the investment were not disclosed. TA Associates' stake was acquired through a secondary purchase from existing shareholders. Privately held Aurora Networks' other shareholders include Fuse Capital, Sprout Group and Castile Ventures.
Boston-based TA Associates' other investments in the communications sector include FreeWave Technologies, Idea Cellular, MetroPCS Communications, Micromax Informatics Limited, SBA Communications, TARGUSinfo, TEOCO and Weather Investments.
"Aurora Networks is precisely the type of profitable, growing company in which TA seeks to invest," TA Associates vice president Jason Werlin said in a statement. "Aurora Networks' continued growth is fueled by an innovative suite of products and services that deliver truly compelling benefits to cable companies throughout the world. We look forward to assisting Aurora Networks' talented management team to further build value in the company."
With the investment, Werlin will join Aurora's board of directors.
"We are very pleased to welcome TA as an investor in Aurora Networks," Aurora chairman and CEO Guy Sucharczuk commented. "We are confident that TA will be a valuable partner as we continue to expand our offering of industry-leading technology to support next-generation cable services."
Goodwin Procter provided legal counsel to TA Associates, and Wilson Sonsini Goodrich & Rosati served as legal advisor to Aurora Networks.