Net Insight closes acquisition of ScheduALL
Stockholm, Sweden – Net Insight, the leading provider of live, interactive and on-demand media transport, today announces its completion of the acquisition of US software company VizuAll Inc, trading under the name of ScheduALL.The acquisition will strengthen Net Insight's market position in media service and workflow orchestration.
Yesterday's closing follows the announcement on September 2, 2015, that Net Insight was entering into an agreement to purchase ScheduALL. Net Insight has acquired 100% of the shares in ScheduALL for USD 14 m on a cash and debt free basis.
The acquisition of ScheduALL is an important strategic initiative as it allows Net Insight to offer complete end-to-end orchestration to the market. In today's fast-paced and schedule driven broadcast world, on-demand and end-to-end service orchestration is becoming key to deliver efficient and cost-efficient solutions to TV production broadcasters and their customers.
ScheduALL, founded in 1989, is a provider of ERM (Enterprise Resources Management) software for media, broadcast and transmission businesses. ScheduALL has its head office in Hollywood, Florida, US and employs approximately 75 employees.
For further information, please contact:
Fredrik Tumegård, CEO of Net Insight, +46 8 685 04 00, fredrik.tumegard@netinsight.net
Thomas Bergström, CFO of Net Insight, +46 8 685 06 05, thomas.bergstrom@netinsight.net
Net Insight AB discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on October 2, 2015 at 08.45 CET.
About Net Insight
Net Insight's vision is to enable a live and interactive media experience for anyone on earth. Net Insightdelivers media transport solutions thatempower broadcasters, content owners and network service providers to activate their audiences by providing aquality-of-experience worth paying for, live and local content that's part of their world and interactive experiences they want to be part of.
The company's solutions enable live, interactive and on-demand media transport, with operational simplicity, to let customers focus on delivering the best possible experience to their audiences. Net Insight's strength lies in enabling lossless video transport at any scale, from live contribution via the Internet, to ultra-high-definition distribution in managed media networks spanning the globe.
More than 200 world-class customers run mission critical media services using Net Insight's solutions, covering more than 60 countries worldwide. Net Insight is quoted on the NASDAQ OMX, Stockholm.
For more information, please visitnetinsight.net
About ScheduALL
Since 1989, ScheduALL has been providing ERM solutions to the largest media, broadcast and transmission businesses in more than 50 countries across the globe. The software has received several industry awards for its market-leading innovations and is clearly recognized as the standard for resource management solutions in a rapidly changing industry.
For more information, please visitwww.scheduall.com
Net Insight closes acquisition of ScheduALL
—
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Net Insight AB via Globenewswire
HUG#1956280
