London – Pace, a manufacturer of TV set-top boxes, on Monday
announced a $475 million cash offer to acquire 2Wire, a maker of set-top box
software and home media routers.
Founded in 1998, San Jose, Calif.-based 2Wire has
relationships with carriers including AT&T and Bell Canada, and is expected
to see revenues of $55 million this year.
The company is currently owned by a
consortium that includes Alcatel-Lucent, AT&T, Telmex and Oak Investment
Pace said the deal will give it a presence in the tier one telco
market in North America.