Cable TV broadcasting equipment manufacturer ATX Networks acquired Israel-based multimedia transmission technology company Arcos Technologies on 31st January, paying a sum reported by Israeli finance newspaper Globes as $26m. Post-acquisition, Arcos will be known as ATX Networks Israel.
Venture firm Xenia Venture Capital, which held 35% of Arcos, will make about $9.2m from its exit, having provided around $500,000 in seed funding. Online communication services company Rotal Networks, a division of systems integration company the Mer Group also holds an undisclosed stake, after leading a follow-on round in 2007.
ATX’s interest in Arcos isn’t new. The two firms have had a long standing trading relationship, with ATX providing Arcos with its first million shekel order in 2008.