ATX Networks, an H.I.G. Portfolio Company, Completes Acquisition of InnoTrans Communications Inc.
MIAMI – September 15, 2016 – H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity investment firm with more than $20 billion of equity capital under management, is pleased to announce that its portfolio company, ATX Networks Corporation (“ATX”) has acquired InnoTrans Communications, Inc. (“InnoTrans”). ATX is a market leading designer and developer of patented, hybrid fiber coax (“HFC”) and digital video processing equipment used by cable operators and a growing number of private video networks, A/V integrators, and telecommunication companies. InnoTrans’ advanced fiber optic solutions broaden ATX’s portfolio.
Headquartered in San Jose, CA, InnoTrans develops and manufactures innovative optical transport solutions for cable operators. InnoTrans’ technologically superior products transmit optical signals over longer distances, conserve more fiber, and utilize power and space more efficiently than peers, ultimately decreasing capital and operating expenses for cable operators. The merger of InnoTrans with ATX will establish a diversified, HFC access market leader poised to serve operators as they continue upgrading network capacity. Moreover, the scale, resources, and infrastructure of ATX will speed new product development and allow InnoTrans to transform into a leading global player in the HFC access market.
“InnoTrans represents a highly strategic and complementary investment. We have known the InnoTrans management team for years and their technological expertise and ability to innovate is second to none across the HFC access market. Together, we plan to continue delivering outstanding network solutions and innovative new products in collaboration with our valued customers,” said Ken Wildgoose, ATX’s President and CEO.
Mani Ramachandran, InnoTrans’ Founder and CEO commented, “We are excited to join the ATX team. Strategically, InnoTrans will benefit greatly from being part of a larger organization focused on HFC technology and we are looking to fully utilize ATX’s scale and resources to deliver increasingly differentiated solutions and value to current and new customers on a global basis.”
Camilo E. Horvilleur, Managing Director at H.I.G. Capital, said, “InnoTrans represents a transformative investment for ATX Networks, allowing the company to become a diversified network infrastructure solutions provider. The partnership provides InnoTrans with the resources and backing of a larger, more global business, enabling better customer experiences and faster development of new, innovative products.”
Mr. Ramachandran will serve as President of a newly created Optical Network Solutions Division within ATX, which will base its foundation for expansion using the current InnoTrans team in its entirety.
About ATX Networks
ATX is a market leading designer and developer of patented, hybrid fiber coax (“HFC”) and digital video processing equipment used by cable operators and a growing number of private video networks, A/V integrators, and telecommunication companies. Cable operators rely on the Company’s HFC equipment to enable increased bandwidth to their subscribers, while ATX’s growing suite of digital video products provide solutions for network operators to efficiently deliver video and data services to end users, including but not limited to transcoding and encoding, bulk video transition gateways, and content streaming products. Headquartered outside of Toronto, Ontario, the Company also operates a light manufacturing facility in Stuart, FL and maintains a state-of-the-art research and development center in Petach-Tikva, Israel.
About InnoTrans Communications
InnoTrans, based in San Jose, Calif. designs, develops and manufactures HFC optical transport solutions for MSOs serving the cable industry. InnoTrans’ technologically superior products allow cable operators to increase network capacity, while reducing capital and operating expenses. InnoTrans was founded by the technical team behind Synchronous (acquired by Motorola in 2002) with a proven 25+ year history of optical innovation leadership.
About H.I.G. Capital
H.I.G. Capital is a leading global private equity and alternative assets investment firm with over $20 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogota and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.