Espial Completes Acquisition ANT plc
(Canada Newswire Via Acquire Media NewsEdge)
OTTAWA, Feb. 4, 2013 /CNW/ - Espial® Group Inc. ("Espial" or the "Company"), (TSX: ESP), a leader in
on-demand TV software and solutions, today announced that it has
completed the previously-announced acquisition of ANT plc ("ANT").
After initially entering into a co-operation agreement with ANT on Nov.
30, 2012, Espial has purchased all of the outstanding shares of ANT in
exchange for all cash consideration of £0.205 per outstanding share.
The acquisition values the issued ordinary share capital of ANT at
approximately £5 million.
"Delivering a high-quality user experience across set-top boxes, smart
TVs, tablets and smartphones is crucial to the success of today's TV
service providers," said Jaison Dolvane, CEO of Espial. "The ANT
acquisition further strengthens Espial's position as an HTML5 market
leader to help to accelerate TV service providers' transition to IP
ANT, headquartered in Cambridge, UK, provides IP, hybrid, and connected
TV products and services. Its customers include major TV manufacturers,
set-top box vendors, broadcasters, and service providers. ANT has
successfully deployed high-performance software featuring rich HTML5
user experiences across set-top boxes, tablets, and smartphones. The
company has also attained significant industry thought leadership
through standards initiatives as a founding member of HbbTV, Europe's
leading HTML5-based hybrid broadcast broadband TV standard.
About Espial (www.espial.com)
Espial is a leading supplier of digital TV and IPTV software and
solutions to cable MSOs and telecommunications operators as well as
consumer electronics manufacturers. Espial's middleware,
video-on-demand, and browser products power a diverse range of pay-TV
and Internet TV business models. Over 10 million licenses of its
patented software are in use across the world. Espial is headquartered
in Ottawa, Canada and has offices in the United States, Europe, and
Asia. Visit www.espial.com or contact via phone at +1 613 230 4770.
About ANT (www.antplc.com)
ANT plc develops and deploys embedded software solutions and services
for the TV industry. Its Galio Suite, a browser, client and
applications stack, is an open standards-based, flexible application
and middleware solution for a wide range of consumer TV platforms.
Using its experience of TV, ANT provides powerful solutions to its
customers by combining consultancy and engineering services with its
highly capable platform products.
ANT's software has been extensively deployed by customers throughout the
world including ADB, Amino, Bouygues Telecom, Cisco, Chunghwa Telecom,
Coship, HwaCom, France Telecom, Humax, Pirelli, Sagemcom, Samsung,
Technicolour, Telecom Italia, and YouSee. ANT plc's shares are listed
on AIM, a London Stock Exchange regulated market, under the ticker ANTP
(Reuters: ANTP.L, Bloomberg: ANTP.LN).
Forward Looking Information
This press release contains information that is forward looking
information with respect to Espial within the meaning of Section
138.4(9) of the Ontario Securities Act (forward looking statements) and
other applicable securities laws. In some cases, forward-looking
information can be identified by the use of terms such as "may",
"will", "should", "expect", "plan", "anticipate", "believe", "intend",
"estimate", "predict", "potential", "continue" or the negative of these
terms or other similar expressions concerning matters that are not
historical facts. In particular, statements or assumptions about the
anticipated benefits and synergies of the acquisition of ANT, economic
conditions, benefits of new customer and partner relationships, future
opportunities for the company and products and any other statements
regarding Espial's objectives (and strategies to achieve such
objectives), future expectations, beliefs, goals or prospects are or
involve forward-looking information.
Forward-looking information is based on certain factors and assumptions.
While the company considers these assumptions to be reasonable based on
information currently available to it, they may prove to be incorrect.
Forward-looking information, by its nature necessarily involves known
and unknown risks and uncertainties. A number of factors could cause
actual results to differ materially from those in the forward-looking
statements or could cause our current objectives and strategies to
change, including but not limited to Espial's ability to successful
integrate ANT's operations into its existing operations, changing
conditions and other risks associated with the on-demand TV software
industry and the market segments in which Espial operates, competition,
Espial's ability to effectively develop its distribution channels and
generate increased demand for its products, economic conditions,
technological change, unanticipated changes in our costs, regulatory
changes, litigation, the emergence of new opportunities, many of which
are beyond our control and current expectation or knowledge.
Additional risks and uncertainties affecting Espial can be found in
Management's Discussion and Analysis of Results of Operations and
Financial Condition for the fiscal year ended December 31, 2011 filed
on SEDAR at www.sedar.com. If any of these risks or uncertainties were to materialize, or if the
factors and assumptions underlying the forward-looking information were
to prove incorrect, actual results could vary materially from those
that are expressed or implied by the forward-looking information
contained herein and our current objectives or strategies may change.
Espial assumes no obligation to update or revise any forward looking
statements, whether as a result of new information, future events or
otherwise, except as required by law. Readers are cautioned not to
place undue reliance on these forward-looking statements that speak
only as of the date hereof.
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