Ericsson has announced its agreement to acquire Envivio, a global leader in software-based video encoding, by means of a tender offer for a price of $ 4.10 per share in cash, or approximately $125 million in the aggregate.
Tier one Envivio customers include Comcast, Cox Communications, Liberty Global, Sky, Telstra and Time Warner Cable. Envivio’s software solutions for pay-TV and TV Anywhere applications perform software-based video encoding/transcoding, processing, packaging and ad insertion.
“Our consumer research clearly shows that viewers are demanding TV on their terms on any device, and expecting experiences that continually evolve,” comments Per Borgklint, Senior Vice President and Head of Business Unit Support Solutions at Ericsson. “We are committed to offering our customers a clear path towards fully agile cloud agnostic platforms that delight TV consumers. I look forward to welcoming the market leader in pure software-defined video encoding, processing, and packaging into Ericsson.”