By: SVG Staff
Thursday, September 3, 2015 - 7:14 am
Net Insight, a provider of live, interactive and on-demand media transport, has acquired the US software company VizuAll Inc, trading under the name of ScheduALL.
According to Net Insight, the acquisition of ScheduALL is an important strategic initiative as it allows the company to offer complete end-to-end orchestration to the market. In today’s 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.
“This is a perfect match for Net Insight,”says Fredrik Tumegård, CEO of Net Insight. “We are not only executing on our strategy, we are also taking a giant leap towards our vision of creating a unified and global media market place for both service providers and media companies. The acquisition also leads to a stronger customer offering which enables us to take a broader and more strategic role towards service providers and media companies. We also want to welcome our new colleagues and we are looking forward to grow together and create further success.”
ScheduALL, founded in 1989, is a provider of ERM (Enterprise Resources Management) software for media, broadcast and transmission businesses. The revenues for the financial year 2014, amounted to USD 10.6m with a net profit of USD 0,7m. Approximately 60% of the revenue is recurring. In 2014, approximately 50% of revenues were derived from North American customers. ScheduALL has its head office in Hollywood, Florida, US and employs approximately 75 employees.
The companies have had a strategic partnership for several years. Together they have implemented an SDN (Software Defined Networking) solution for service providers allowing them to offer their customers a unique, fully automated service provisioning over global wide area networks. By this solution service providers reduce operating cost and media companies gain from more flexible and efficient workflows. Net Insight can now broaden the solution with new services and applications.
“We are operating in a fast moving industry. I am convinced that we can create added value to our customers with our combined expertise in transport and production workflows,” says Ralph Quintero, COO and owner of ScheduALL. “We will continue to serve our customers and partners and accelerate the deployment of advanced solutions providing automated, assured orchestration for on-demand network services.”
Net Insight acquires 100% of the shares in ScheduALL, for USD 14 m on a cash and debt free
basis. The acquisition price will be paid in cash at closing and will be adjusted for the actual level of debt, working capital and cash. The payment will be funded by using available cash.
Transactional costs of an estimated SEK 5 m will affect Net Insight’s third and fourth quarter
results of 2015. The transaction is expected to close on October 1, from which date ScheduALL will be fully consolidated. The transaction is expected to have a positive impact on earnings per share from January 1, 2016.