Transaction adds 5G mobile technology and
network bonding to Haivision's industry-leading ultra-low latency
video streaming and networking solutions
MONTREAL, Feb. 24, 2022 /CNW Telbec/ - Haivision Systems
Inc. ("Haivision") (TSX: HAI), a leading global provider of
mission-critical, real-time video streaming and networking
solutions, today announced an agreement to acquire AVIWEST S.A.S.
("Aviwest"). With the addition of Aviwest, Haivision will have a
comprehensive video contribution solution portfolio to address the
growing demand for live, high-quality video content in broadcast,
sports, and live event production.
This important acquisition by Haivision will combine two
industry leaders in low latency video contribution. Haivision is a
premier vendor for low latency "wired" broadcast video networks;
Aviwest is a premier vendor for low latency wireless broadcast
video networks. The acquisition will bring mobile networking (5G/4G
cellular) and patented network bonding capabilities to Haivision's
solution portfolio. Combined with Aviwest, Haivision will be an
unmatched provider of low latency broadcast technology solutions
for any live event.
Founded in 2008, Aviwest is a world-leading provider of mobile
IP-based video contribution systems and a pioneer in transmission
of live video over cellular networks. The company has a history of
innovation including many world firsts: portable cellular video
transmission, live video transmission over a 4G network
implementing QoS, and live 4K video
transmission over a 5G network. Aviwest has also received two
Emmy® Awards for its SST networking technology for reliable
transmission of video over bonded networks.
Globally, hundreds of top broadcasters, television
stations, and production houses trust and rely on Aviwest
technology in their day-to-day coverage of sporting and other live
events. Furthermore, Aviwest solutions are used extensively in
support of major international sporting events. Headquartered in
Rennes (Saint-Grégoire), France,
Aviwest has more than 70 employees with field operations
globally.
"With the addition of Aviwest, Haivision will now lead in both
fixed and mobile networks in providing ultra-low latency video
solutions," said Mirko Wicha,
Haivision President and CEO. "We are very excited to welcome the
amazing team at Aviwest and its customers to the Haivision family,
and to provide broadcasters globally a trusted and proven vendor to
solve their video contribution challenges."
"Together with Haivision, our solutions will bring customers
maximum live video flexibility with ultra-low latency, highly
reliable network connectivity, and pristine video quality," said
Ronan Poullaouec, CTO and Co-Founder of Aviwest. "With sub-200ms
glass-to-glass latency over 5G networks, our solutions are
revolutionizing remote production workflows by giving broadcasters
more options for contributing real-time content for premium live
events and sports coverage."
On March 16 at 9 am EST, Haivision will host a virtual CTO
discussion, Haivision & Aviwest: The Future of
Broadcast Video Contribution, sharing the strategy and vision
of the acquisition. Featuring Mahmoud Al-Daccak, CTO of Haivision,
and Ronan Poullaouec, CTO of Aviwest, attendees will learn how this
important acquisition is poised to change the face of broadcast
contribution. Register to attend the webinar here:
https://www.haivision.com/resources/webinars/cto-discussion/
Key Transaction Highlights:
Haivision is acquiring Aviwest to expand its technology and
solution portfolio with 5G transmission, mobile video contribution,
and network bonding technology. This acquisition will allow
Haivision to:
- Deliver a comprehensive solution portfolio for low latency
video contribution over fixed and mobile networks.
- Provide low latency synchronized stream delivery to address the
needs of remote production and cloud production workflows.
- Benefit from all cross-selling opportunities between the
companies' highly complementary offerings.
- Incorporate Aviwest's patented network bonding technology
across Haivision's products and leverage both EmmyÒ award-winning
network transport protocols, SRT and SST.
- Extend Aviwest 5G and network bonding technology into the
growing government and public safety markets.
- Significantly expand Aviwest's sales presence into the North
American market.
- Derive long term product development efficiencies in video
encoding, cloud connectivity, and network management.
- Gain operational synergies in supply chain management,
production, global 24/7 support, sales, and marketing.
- Establish Haivision's second largest development facility
worldwide in France, making
Europe home to over half of
Haivision's development team.
- Expand its global workforce to over 400 employees.
Transaction Details:
Haivision will acquire 100% of the shares of Aviwest on a
cash-free and debt-free basis for cash consideration of €20.5
million (approximately C$29.6
million), subject to customary adjustments. Aviwest had
approximate revenues of €10.5 million (approximately C$15.1million) in 2021. The closing is contingent
upon the satisfaction or waiver of all closing conditions, and the
receipt of certain approvals, including obtaining the advisory
opinion of Aviwest's Works Council (employee representatives) as
mandated by French Law - all of which are expected to be received
within 30 days. The acquisition is expected to be accretive by the
end of Haivision's second quarter.
About Haivision
Haivision is a leading global provider of mission-critical,
real-time video streaming and networking solutions. Our connected
cloud and intelligent edge technologies enable organizations
globally to engage audiences, enhance collaboration, and support
decision making. We provide high quality, low latency, secure,
and reliable live video at a global scale. Haivision open sourced
its award-winning SRT low latency video streaming protocol and
founded the SRT Alliance to support its adoption. Awarded two
Emmys® for Technology and Engineering from the National Academy of
Television Arts and Sciences, Haivision continues to fuel the
future of IP video transformation. Founded in 2004, Haivision is
headquartered in Montreal and
Chicago with offices, sales, and
support located throughout the Americas, Europe, and Asia. Learn more at haivision.com.
About Aviwest
Aviwest is a leading global provider of IP-based mobile video
contribution systems. Powered by proprietary, patented, and
two-time Emmy® Award-winning intelligent IP bonding technology, its
reliable solutions have been adopted by 1,000-plus broadcasters,
online media, news agencies, social media companies, and first
responders in more than 100 countries to cover breaking news and
live events. Headquartered in Saint-Grégoire, France, Aviwest offers professional worldwide
support for its products and cloud services through local and
international sales offices and distribution networks across more
than 160 countries. Learn more at aviwest.com.
Forward-Looking Statements
This release includes "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of applicable securities laws,
including, without limitation, statements regarding the timing and
outcome of the acquisition transaction with Aviwest and the
anticipated benefits of the transaction. In some cases, but not
necessarily in all cases, forward-looking statements can be
identified by the use of forward-looking terminology such as
"plans", "targets", "expects" or "does not expect", "is expected",
"an opportunity exists", "is positioned", "estimates", "intends",
"assumes", "anticipates" or "does not anticipate" or "believes", or
variations of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might", "will" or "will
be taken", "occur" or "be achieved". In addition, any statements
that refer to expectations, projections or other characterizations
of future events or circumstances contain forward-looking
statements. Forward-looking statements are not historical facts,
nor guarantees or assurances of future performance but instead
represent management's current beliefs, expectations, estimates and
projections regarding future events and operating performance.
Forward-looking statements are necessarily based on opinions,
assumptions and estimates that, while considered reasonable by
Haivision as of the date of this release, are subject to inherent
uncertainties, risks and changes in circumstances that may differ
materially from those contemplated by the forward-looking
statements. Important factors that could cause actual results to
differ, possibly materially, from those indicated by the
forward-looking statements include, but are not limited to, the
risk factors identified under "Risk Factors" in Haivision's latest
annual information form, and in other periodic filings that
Haivision has made and may make in the future with the securities
commissions or similar regulatory authorities in Canada, all of which are available under
Haivision's SEDAR profile at www.sedar.com. There can be no
assurance that the transaction will occur, or that it will occur on
the terms and conditions contemplated in this news release. The
transaction could be modified or terminated.
These factors are not intended to represent a complete list of
the factors that could affect Haivision. However, such risk factors
should be considered carefully. There can be no assurance that such
estimates and assumptions will prove to be correct. You should not
place undue reliance on forward-looking statements, which speak
only as of the date of this release. Haivision undertakes no
obligation to publicly update any forward-looking statement, except
as required by applicable securities laws.
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SOURCE Haivision Systems Inc.