Tandberg Television Completes Purchase of NDS' Digital Broadcasting Business
World's leading independent broadcast solutions provider emerges from the combination.
N/A has emerged as the independent powerhouse in the broadcast systems market following its purchase from The News Corp. group of NDS' digital broadcasting business. The purchase was part funded by existing cash resources, stock swap and with a global share offering which was received very positively by the market, being 2.3 times oversubscribed. Tandberg Television has now completed its purchase of all the assets of NDS' Digital TV products business for $272 million, maintaining significant cash reserves in the bank to fund the future development of the company and further acquisitions.
"Our independence from specific conditional access and interactive platforms means we can provide the market with open solutions that can be seamlessly integrated with any other vendors' products. This is a market led move, driven by the broadcasters' desire to be able to choose systems from independent providers. Tandberg Television is now the largest player that is able to offer all broadcasters this independence," says Arne Graee, CEO of Tandberg Television ASA.
The two companies bring together over 100 years of broadcasting expertise and a strong track record for product innovation and customer service. The new Tandberg Television is strongly positioned to address future challenges in the Digital TV market. The company will continue its commitment to technology innovation, pushing the boundaries of digital broadcasting with a product portfolio that provides a complete offering to customers. Its increased size and customer base gives it the critical mass to strengthen its competitiveness and provide a comprehensive, value-added service offering to the global market.
"We are excited by the opportunities that combining these two businesses bring and are pleased that the investment community has received this move so positively. We have already started integrating the organizations and are rapidly creating a digital broadcasting powerhouse based on product excellence, strong market reputation for quality and the skills and energy of our 850 people," continues Arne Graee.
Tandberg Television is certain to grow its digital TV leadership based on its strengthened presence in the digital cable, satellite and terrestrial TV markets, as well as in the mobile contribution, distribution, ATM and private network sectors. The new company has a broadened global distribution capability through its own offices in Asia, Europe, and the US which work directly with key account customers and through its Business Partner program which includes relationships with major broadcast organizations and product distributors around the world.
About Tandberg Television ASA
Tandberg Television ASA, a Norwegian technology company listed on the Oslo Stock Exchange, has operations worldwide and employs over 850 people in the UK, Europe, Asia and US. The company provides open solutions for digital broadcasting, specializing in products and systems for the management and transmission of digital TV signals. Tandberg Television is a leader in digital video compression, multiplexing, transmission and reception and has proven systems integration and global support capabilities. The company is committed to open solutions and plays a major part in developing open systems and international standards such as MPEG-2, DVB, ATSC, SMPTE and DTTV.
Tandberg Television's customers include major broadcasters and network operators in the digital cable, satellite and terrestrial TV markets as well as leading players in the mobile contribution, distribution, ATM and private network sectors. Current customers include BSkyB, BBC, BT, Cable & Wireless, Canal +, China Satellite, Echostar, Eutelsat, Fox, France Telecom, Media Kabel, NTL, NTU, Reuters, SES (Astra), SkyLA, StarTV, Telenor Satellite Services, Telewizja Polska S.A, Telia and TeleDanmark Cable and Tribune Broadcasting.