According to Jorge Salomão Pereira, CEO and Head of Technology Division at Padtec,
“The Civcom acquisition is much more than a typical company acquisition. It represents a great opportunity to offer competitive solutions to the high speed optical communication market.”
Meron Raz, CEO of Civcom, adds that the acquisition will “will increase [Civcom’s] worldwide market share and will add leading knowledge and more capability” to their products and technology.That buyout doesn’t exactly break the bank for Civcom’s investors Pitango, JVP, Concord, Ascend, Formula, and Morris Kahn’s Aurum Ventures. They invested nearly $38 million in the company. But hey, you win some, and you break even on others.
For more on this check out Padtec’s press release or an interview with Padtec’s CEO.
By Dani Dechter
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