Expanding its broadband-services footprint on the West Coast, C-COR.net Corp.
said it will buy Aerotec Communications Inc. for about $2.25 million in
cash.
Additional cash payments of up to $3.75 million could be made if Aerotec hits
certain revenue targets during the first two years after the deal closes later
this month, according to a C-COR.net 8-K filing with the Securities and Exchange
Commission.
Founded in 1986, Simi Valley, Calif.-based Aerotec employs roughly 35 people
and has a customer base in the state that includes Charter Communications Inc.,
Comcast Corp., Adelphia Communications Corp. and Altrio Communications Inc., a
Los Angeles-based overbuilder.
Latest Videos FromMultichannel News
Aerotec designs, builds and installs coaxial and fiber optic cable
networks.
When the deal closes, Aerotec president Ted Engborg will become vice
president of the C-COR.net/Worldbridge Technical Services Group construction
division's Western region, which will continue to be headquartered in Simi
Valley.
C-COR.net's acquisition of Aerotec fleshed out the company's
broadband-maintenance, testing and construction business. Last February, the
company closed a deal to buy Worldbridge Broadband Services Inc.
'Our goal is to be a nationwide service provider. We're filling in the niches
now,' a C-COR.net spokeswoman said.
