In the middle of announcing a number of deals for its solutions with telcos and operators around the world, cable TV, DTH, IPTV and over-the-top broadcast and video delivery solutions provider ATEME has entered into negotiations to take control of OTT and IPTV software provider Anevia.
Talks are taking place between ATEME and the main shareholders of Anevia, together holding 87% of the share capital and 90% of the theoretical voting rights of the latter, in order to transfer their interest in their share capital to the benefit of ATEME. At current prices, these terms would set Anevia’s enterprise value at €19 million, 1.2x times its 2019 revenues The transaction is said to have received the prior unanimous support of the boards of directors of both parties.
The combination of the two companies would create a major player in video broadcasting infrastructure, with combined revenues of more than €80 million based on pro forma results for 2019. Subject to a number of conditions, the firms see the deal completing later in 2020.
ATEME sees a merger with Anevia as gaining access to its solutions for optimising video flow delivery as a key step in its expansion strategy for existing customers' value chain and what it says is the “conquest” of new markets. “Both companies share the same values of respect and innovation,” commented Michel Artières ATEME chairman and CEO. “Based on our mission to deliver the best quality of experience, our ambition is to become the reference video solution for billions of consumers. The shared vision of the two companies and their strong culture should enable us to rapidly create significant value for our customers, employees and shareholders.”
Laurent Lafarge, chairman and CEO of Anevia, added: “Anevia's management is delighted with this project to combine with ATEME, the leader in video distribution infrastructure. This combination is a tremendous opportunity to accelerate development in a buoyant market, thanks to a value proposition which is rich and strong in innovation.”
The combination of the two companies would create a major player in video broadcasting infrastructure, with combined revenues of more than €80 million based on pro forma results for 2019. Subject to a number of conditions, the firms see the deal completing later in 2020.
ATEME sees a merger with Anevia as gaining access to its solutions for optimising video flow delivery as a key step in its expansion strategy for existing customers' value chain and what it says is the “conquest” of new markets. “Both companies share the same values of respect and innovation,” commented Michel Artières ATEME chairman and CEO. “Based on our mission to deliver the best quality of experience, our ambition is to become the reference video solution for billions of consumers. The shared vision of the two companies and their strong culture should enable us to rapidly create significant value for our customers, employees and shareholders.”
Laurent Lafarge, chairman and CEO of Anevia, added: “Anevia's management is delighted with this project to combine with ATEME, the leader in video distribution infrastructure. This combination is a tremendous opportunity to accelerate development in a buoyant market, thanks to a value proposition which is rich and strong in innovation.”
