2Wire Picked Up by Pace

7/27/10

Pace PLC, the UK-based provider of digital pay TV technologies, said yesterday it will acquire San Jose, CA-based 2Wire, which makes the broadband cable modems deployed in homes by AT&T and other telecommunications companies. Pace will pay $475 million for 2Wire, which had raised nearly $200 million in venture financing since its 1998 launch, according to PE Hub, and is thought to have $55 million in cash on hand. The acquisition will make Pace the United States’ biggest provider of residential gateway devices.

Wade Roush is a contributing editor at Xconomy. Follow @

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