Added demand for on-demand as Espial agrees to acquire ANTEditor | 01-12-2012
In a move designed to create a HTML5 market leader with expanded revenues, customer base, and product portfolio, Espial is to acquire IP video, hybrid, and connected TV products and services provider ANT.
The deal, whereby the Canadian on-demand TV solutions firm has offered to acquire all outstanding shares of the UK technology company, is valued in the region of £5 million and has already gained the support of ANT's board of directors. Subject to regulatory approval, the acquisition is expected to close in Q1 2013.
Espial believes the combined company operations will provide it with strong synergies such as an increased revenue and customer base, increased scale and resources to deliver rich HTML5 user experiences and integrated clients across set-top boxes and multiscreen devices. It will also give Espial an expanded customer footprint in Europe, North America, and Asia including major TV operators, set-top box manufacturers, and smart TV manufacturers all of whom are the key customers of ANT's technology. ANT is also a founding member of the HbbTV HTML5-based hybrid broadcast broadband TV standard.
"Multiscreen video services on set-top boxes, smart TVs, tablets, PCs, and smartphones are quickly becoming the new expectation for today's consumers. Delivering a superior user experience across these devices is a critical element to the success of TV service providers," said Jaison Dolvane, CEO of Espial.
"We believe the acquisition of ANT will extend our capabilities to establish Espial as a clear market leader as TV service providers aggressively move to IP video delivery. We are excited about this combination and committed to working with ANT's existing customers and partners to ensure their ongoing success."
"The TV market has continuously evolved to bring an ever richer set of video services to consumers over managed networks and the open internet to a wide range of consumer devices," added Royston Hoggarth, chairman of ANT. "We believe the combination of [Espial and ANT] will benefit and help intercept the growth of this market."