Ericsson (Nasdaq:ERIC) today announced its agreement to acquire Envivio (Nasdaq:ENVI), by means of a tender offer for a price of USD 4.10 per share in cash, or approximately USD 125 million in the aggregate.
The acquisition will strengthen Ericsson’s video compression position, combining its leading position in broadcast and contribution with Envivio’s leadership in multiscreen cable and telecom. Envivio’s cloud-centric and software-based video capabilities will be a key addition to Ericsson’s extensive portfolio of media enrichment, processing, publishing, delivery, and TV platforms, enabling TV experiences on any device.
Envivio is a global leader in software-based video encoding with an installed base of over 400 TV service provider and content owner customers in all markets globally (Comcast, Cox Communications, Liberty Global, Sky, Telstra and Time Warner Cable). Envivio generated revenues of USD 43 million during full year 2014 and is headquartered in San Francisco, CA. Envivio was founded in 2000 and has a staff of approximately 200 employees worldwide.
Envivio’s advanced software solutions for pay TV and TV Anywhere applications perform software-based video encoding/transcoding, processing, packaging and ad insertion. Envivio’s cloud-centric pure software video processing is available on Intel-based appliances or IT blade servers. The acquisition is expected to close in the fourth quarter, 2015, subject to customary closing conditions.
You can find Ericsson at IBC (11_15 Sept. 2015) in Hall 1, Stand 1:D61