|By Business Wire||
|September 7, 2012 03:20 AM EDT||
Following a mutual due diligence Nevion (http://www.nevion.com/) and T-VIPS (http://www.t-vips.com/), the pioneers of video transport for broadcasters, service providers and government entities worldwide, today announced an intention to merge the companies pending regulatory and shareholder approvals. The merger is structured as a cash and shares transaction, no further financial details of the deal are to be revealed.
The new management structure sees existing Nevion head, Geir Bryn-Jensen, take up the reins as Chief Executive Officer. He is joined by senior managers from both companies’ current teams: Eugene Keane, Nils Fredriksen, Petter Kvaal Djupvik, Johnny Dolvik, Janne T. Morstøl and Arnhild Schia.
Johnny Dolvik, CEO of T-VIPS, said: “Joining forces with Nevion will give us critical mass, increased market presence and enables us to realise our shared vision to shape the future of media transport right across the media value chain. It makes a real statement to the market. We have a complementary culture of innovation and a vision that we believe will resonate and bring benefits to our customers and partners. We’re very excited by this opportunity and are very much looking forward to working with our new colleagues to realise our joint vision.”
Geir Bryn-Jensen, CEO of Nevion, added: “With the explosion in global media consumption and the growing need for broadcasters and service providers to deliver media content quickly on multiple platforms, the timing of our merger makes perfect sense. Now is the right time to profit from the rapid shift towards media networking over IP, deliver the new generation of optical transport and enable the emerging media delivery business models.”
Moving beyond video transport to fully managed and controlled video networking, Nevion manufactures award-winning systems for broadcasters, service providers and government agencies worldwide. Highly modular solutions encompass IP and optical transport, state-of-the-art compression and routing for any video format over any network infrastructure—within buildings or across continents. With the industry’s greenest and most scalable products, Nevion preserves quality while delivering video from content acquisition through distribution. By creating new service-offering opportunities or minimizing costs, Nevion enables its customers to move, manage and monetize video content. World headquarters in Sandefjord, Norway, with U.S. headquarters in Oxnard, California, Nevion also maintains offices in Oslo, Chicago, London, Dubai, Beijing and Singapore.
T-VIPS is a global leader in professional video transport solutions. We help our customers deliver next-generation TV services such as 3D, HDTV, live events and local content. Our IP-based video transport and Digital Terrestrial TV solutions allow network operators, broadcasters, and content providers to deliver the highest picture quality at the lowest cost. Leveraging our technology expertise in video over IP, video compression, transport stream processing, monitoring and seamless switching we deliver products and solutions that improve Quality of Service (QoS), ensure high quality in live contribution workflows and enable state of the art DTV. Our wide range of products enables fast time-to-market, increased reliability and improved video quality. We also provide fully customizable solutions, tailored to customer needs to deliver increased efficiency in video transport infrastructures. T-VIPS is driven by innovation, customer success, and the application of new technologies to enhance both traditional video transport and Over The Top infrastructures and ensure the delivery of high quality content to TV ready mobile devices.
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