DTV Innovations to Acquire Video Contribution Business of International Datacasting
- Acquisition includes IDC’s market-leading TITAN solution -
November 2, 2015 – DTV Innovations, a leading supplier of digital broadcasting solutions to the world’s foremost television broadcasters today announced that it has executed a definitive agreement to acquire the professional video contribution product line from International Datacasting Corporation (TSX:IDC), a technology provider for the world’s premiere broadcasters in radio, television, data and digital cinema. The closing of the transaction is subject to the fulfillment of certain closing conditions which are expected to be satisfied in the next two weeks..
The IDC professional video line, acquired from Comtech EF Data in 2009 – with roots back to Tiernan - offers hardware based MPEG-2 and MPEG-4 encoding and decoding solutions with focus on low latency, video quality and support for multiple audio channels and formats in a compact road ready platform. IDC has been synonymous with high quality video contribution and distribution solutions for more than two decades. IDC’s video products have been deployed by nearly every major broadcaster.
The acquisition includes all intellectual property and inventory associated with IDC’s professional video line and includes: TITAN and SE4000 encoders, HMR decoders, and the widely deployed Logic Innovations TSM-2800 ASI multiplexer.
In conjunction with the acquisition, DTV Innovations has opened a new R&D center in San Diego, California and has hired several senior level sales, engineering, and support personnel who previously supported the product line for IDC
“Broadcasters are increasingly looking for a tightly integrated solution capable of managing their encoding, PSIP insertion, and multiplexing needs”, said Benitius Handjojo, CEO of DTV Innovations. “Through this acquisition, DTV Innovations will be ideally positioned to provide a more capable solution in the most efficient and cost effective manner while also expanding its presence into the rapidly growing outside broadcast market.
Handjojo added, “We will also gain access to IDC’s global distribution network allowing DTV Innovations to expand its sales which have historically been focused on the North American market.”
“IDC has been proud to serve the Video Contribution market and to stimulate innovation by launching ground-breaking solutions over more than a decade”, stated Chris Barrett, Co-Chief Executive Officer of IDC. “This asset sale will enable us focus on key products and market going forward, and enable accelerating the roadmap and planned deployments of our flagship LASER™ solution”.
About DTV Innovations:
DTV Innovations provides high quality, cost-effective hardware and software solutions to the ATSC, ATSC-M/H, Cable, DVB, DVB-T/T2 & ISDB-Tb broadcast markets. DTV Innovations is privately held with headquarters near Chicago, Illinois, a R&D center in San Diego, California, and through its subsidiary PT Hanjaya International just recently open a R&D Center in Jakarta, Indonesia. For more information visit: www.dtvinnovations.com.
About International Datacasting Corporation:
International Datacasting Corporation (TSX: IDC) is a technology provider for the world’s premiere broadcasters in radio, television, data and digital cinema. IDC’s products and solutions are in demand for radio and television networks, targeted ad insertion, digital cinema, 3D live events, VOD, and IPTV. IDC is headquartered in Ottawa, Canada, has installations in over 100 countries, and a strong international network of value-added partners and distributors. For more information visit: www.datacast.com.
Forward-Looking Statements by IDC:
This press release contains certain information that may constitute “forward-looking information” and/or “forward-looking statements” within the meaning of applicable Canadian securities laws including, without limitation, statements with respect to the proposed acquisition, the timing and completion of the sale of the noted assets, and statements with respect to the results of the sale of such assets. All forward looking information and forward-looking statements are necessarily based on a number of estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies. The material assumptions used to develop the forward looking-statements made in this release include the ability of the parties to consummate the proposed acquisition by satisfying the closing conditions, as well as other considerations that are believed to be appropriate in the circumstances.
All statements other than statements which are reporting results as well as statements of historical fact are forward-looking statements that may involve a number of known and unknown risks, uncertainties and other factors; many of which are beyond the ability of IDC to control or predict.
Forward-looking statements are generally identifiable by use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “design”, “plan or “project” or the negative of these words or other variations on these words or comparable terminology. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that might cause actual results to differ materially include, but are not limited to: the possibility that certain assumptions with respect to the proposed transaction could prove to be inaccurate, the required closing conditions may not be satisfied in a timely manner or at all.
More detailed information about potential factors that could affect IDC’s financial and business results is included in the public documents IDC files from time to time with Canadian securities regulatory authorities and which are available on SEDAR at www.sedar.com, including, without limitation, IDC’s Annual Information Form and MD&A for the year ended January 31, 2015, each dated April 29, 2015. Except as expressly required by applicable law, we undertake no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are provided to assist external stakeholders in understanding IDC’s expectations as at the date of this release and may not be appropriate for other purposes. Readers are cautioned not to place undue reliance on such statements.
For more information, contact:
DTV Innovations LLC
International Datacasting Corporation
+1 613-596-2400 x22960