DENVER -- (BUSINESS WIRE) -- Harris Broadcast, a portfolio company of The Gores Group and a market share leader of content management and network infrastructure solutions serving the global broadcast, communication service provider, government and enterprise markets, today announced it has signed a definitive agreement to acquire Imagine Communications, a leading innovator in digital video solutions, enabling content providers and system operators to deliver bandwidth-efficient services with optimum video quality and Quality of Experience (QoE). The transaction, subject to customary approvals and closing conditions, is expected to close in January 2014.
The Imagine Communications acquisition strengthens Harris Broadcast’s end-to-end solutions portfolio, particularly enhancing its OTT, mobile video and multi-screen TV Everywhere capabilities, while furthering interoperability of technology and systems from both the linear and non-linear TV viewing worlds.
“Many of our content originator customers have been adding services for OTT and TV Everywhere, but have had to do so with bifurcated systems for linear and non-linear services,” said Charlie Vogt, Harris Broadcast CEO. “This acquisition enables Harris Broadcast to take a leadership position in the OTT and TV Everywhere market, while laying the foundation for the first true software defined integration of sales, scheduling, automation, playout and delivery across both linear and non-linear content distribution networks. Additionally, through this acquisition, we will expand our R&D and innovation initiatives, strengthen our encoding, transcoding and ABR market position, and increase our total global addressable market.”
Imagine Communications’ approach to TV Everywhere transcoding utilizes cutting edge software breakthroughs that run in a virtualized blade server environment, consistent with Harris Broadcast’s long-term vision for product development focused on software and commercial-off-the-shelf hardware. Imagine solutions serve digital broadcast markets as well as emerging applications such as TV Everywhere, Network DVR (nDVR), Internet/Mobile Video and IPTV. The longstanding broadcast paradigm of scheduled viewing (linear) at fixed locations has now expanded to on-demand, interactive, personalized and mobile video (non-linear). Imagine’s unique combination of next-generation video processing, Adaptive Bit Rate (ABR) transcoding and statistical multiplexing technology provides the bandwidth efficiency and density needed to meet the demand for TV Everywhere services.
“Harris Broadcast’s new leadership team, end-to-end technology and industry leading platforms ideally complement and significantly expand the possibilities for our cutting edge TV Everywhere capabilities,” said Richard Stanfield, Imagine Communications CEO. “By combining Imagine technology with Harris Broadcast’s intellectual property, which already powers most of the world’s top content producers, this acquisition will transform the marketplace by leveraging Harris Broadcast’s strength and transferring it through smart integration to the non-linear, OTT, TV Everywhere world. Moreover, through Harris Broadcast, our technology benefits immediately from a worldwide go-to-market infrastructure, sales force and supply chain that turbocharges the possibilities of a comprehensive offering.”
About Harris Broadcast
For more than five decades, Harris Broadcast has been an innovator of market-leading media, playout, networking and transmission technology serving the world’s most prestigious broadcast, communications service providers, governments and enterprises across 140 countries. From creating to Delivering the Moment, Harris Broadcast’s business management software and end-to-end audio and video solutions are enhancing the user experience, improving workflow efficiencies and generating revenue for its customers. For more information, please visit harrisbroadcast.com. Follow us on Twitter @HarrisBroadcast.
About The Gores Group
The Gores Group, LLC is a global investment firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, which was founded in 1987 by Alec E. Gores, has become a leading investor having demonstrated over time a reliable track record of creating value in its portfolio companies alongside management. Headquartered in Los Angeles, The Gores Group maintains offices in Boulder, CO, and London. For more information, please visit www.gores.com.