Net Insight announces closing of transaction to divest ScheduALL
Stockholm, Sweden – Net Insight has today closed the transaction to divest ScheduALL to Xytech Systems Corporation (“Xytech”).
As announced on February 24, 2021 Net Insight signed an agreement to divest the business unit Resource Optimization, operating under the name ScheduALL, for a total transaction value of USD 6 million. With today’s closing of the transaction, ownership of all shares in the wholly owned ScheduALL subsidiaries is transferred to Xytech.
With the completion of the ScheduALL divestment, and the sale of the Sye streaming business to Amazon in early 2020, Net Insight has accomplished the transformation journey towards a stronger and more focused media networks provider with a clear strategy to accelerate and capture growth opportunities across cloud, IP and remote production applications.
For further information, please contact:
Crister Fritzson, CEO of Net Insight AB, +46 8 685 04 00, email@example.com
About Net Insight
Net Insight (Nasdaq: NETI B) is defining new ways to deliver media, opening up opportunities for content owners, broadcasters, production companies, service providers and enterprises to produce and deliver the future of live sport, news and online content. The company is driving the transformation to IP, virtualization and cloud workflows and has built the market’s most open and cloud-ready media delivery platform for contribution, distribution, live production, and orchestration.
For over 20 years the world’s leading media brands have trusted Net Insight and the company is recognized for having set the benchmark for media transport. Now Net Insight is combining its broadcast heritage and R&D expertise with the deep IP knowledge gained from developing its own streaming solution to evolve Nimbra, its Emmy® Award winning video transport solution, for the new media era. With a strong vision for the future of IP and cloud, Net Insight is helping the world’s leading media brands to simply and cost-effectively produce and deliver content to viewers anywhere.
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