Monday, July 26, 2010

2Wire Acquired By Pace In $475M Deal

San Jose-based 2Wire, a developer of residential gateways and other broadband equipment, is in an agreement to be acquired by UK-based Pace plc, the firms said today. The deal is worth $475M in cash. 2Wire is is backed by Alcatel-Lucent, AT&T, Telmex, Oak Investment Partners, Meritech Capital Partners, and Technology Crossover Ventures. The firms said that 2Wire is being advised by Barclays Capital, Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP and Taylor Wessing LLP. Pace is being advised by Evercore Partners, Gibson Dunn & Crutcher LLP and Travers Smith LLP.