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.
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.
