Pace acquires Aurora for $310 million

The purchase of Aurora, which had a turnover of 217 million in the last financial year, will mean for Pace to expand its business area beyond the development of set-top-boxes.

Pace has acquired the provider of solutions for optical transport and network access, Aurora Networks, in an operation valued at 310 million dollars.

The purchase of Aurora, which had a turnover of 217 million in the last financial year, will mean for Pace to expand its business area beyond the development of set-top-boxes and software, fully entering an environment dominated by broadband.

Aurora will continue to be led by its current management team, retaining the Aurora brand, becoming a strategic business unit within Pace.

Allan Leighton, President of Pace, said: "The acquisition of Aurora represents an important evolution in this process and increases our growth strategy through a broader platform of hardware, software and services. The acquisition will allow us to expand our business beyond current borders and build closer and more integrated relationships with our customers, which will strengthen Pace's position as a market-leading solutions provider for the pay TV and broadband industries. "