MUMBAI: UK-based Pace is on the prowl. The set-top box (STB) and gateway device manufacturer has acquired Latens Systems, its third purchase this year, as it seeks to strengthen its position in the pay-TV market.
The Yorkshire-based firm has agreed to pay not more than $46.5mn (?28.75mn) in cash, of which $16.2mn (?10mn) is deferred and payable in 2012, subject to the achievement of certain unspecified conditions.
Earlier in the year Pace had bought out residential gateway provider 2Wire and Bewan, another gateways supplier.
The new acquisition will help Pace strengthen its position particularly in the US. Latens is an established supplier of its conditional access solutions to the telecom companies in the US who are losing a good chunk of their voice revenues to cable TV companies and are making attempts at getting a slice of the video market.
Pace will tap smaller clients through the products offered by Latens who prefer single technology providers.
Latens will be part of Pace‘s newly formed Enterprise division that includes its international IP, gateway and networks businesses, established in September, and headed by Mark Loughran, the former MD of Nokia UK & Ireland.
Latens also has offices in Hyderabad, India, and Atlanta, United States.
