Ericon completes acquisition of Envivio
27/10/2015
Merger follows the successful completion of the tender offer by Ericsson for all shares in Envivio for the price of USD 4.10 per share
Envivio shares will be delisted from the NASDAQ Global Select Market
Ericsson (NASDAQ: ERIC) today announces the completion of the acquisition of Envivio, Inc. (NASDAQ: ENVI). The transaction was completed through a merger of its indirect wholly-owned subsidiary, Cindy Acquisition Corporation, with and into Envivio, Inc. (NASDAQ: ENVI). Envivio, Inc. survives the merger as a wholly-owned subsidiary of Ericsson.
The merger follows the successful completion of the tender offer by Ericsson for all shares in Envivio for the price of USD 4.10 per share. As of expiration of the tender offer, 26,385,322 shares (including 58,467 shares pursuant to guaranteed delivery procedures) were validly tendered and not withdrawn in the tender offer, representing in excess of 93 percent of Envivios issued and outstanding shares. All validly tendered shares have been accepted for payment in accordance with the terms of the tender offer.
As a result of the merger, any Envivio shares not tendered in the tender offer have been converted into the right to receive USD 4.10 per share. In addition, options to purchase Envivio shares have been converted into the right to receive a cash payment equal to their net exercise value, based on the USD 4.10 per share merger consideration.
Notwithstanding the completion of the merger, Ericsson will pay for shares tendered via guaranteed delivery procedures promptly after delivery of those shares.
As a result of the merger, Envivio shares will be delisted from the NASDAQ Global Select Market.
Envivio is a global leader in software-based video encoding with an installed base of over 400 TV service providers and content-owner customers in all markets globally. The deal will strengthen Ericssons position as a leader and global innovator in TV and media. It will enable Ericssons customers to deploy new technologies and agile video processing, and to develop innovative new services that engage TV consumers every day.
Todays closing follows the announcement on September 10, 2015, that Ericsson was entering into an agreement to acquire Envivio by means of a tender offer for a price of USD 4.10 per share in cash, or approximately USD 125 million in the aggregate.
FORWARD-LOOKING STATEMENTS
This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including the expected completion of the acquisition and the time frame in which this will occur, the expected benefits to Ericsson and its customers from completing the acquisition, and plans regarding Envivio.
Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, the potential impact on the business of Envivio due to the uncertainty about the acquisition, the retention of employees of Envivio and the ability of Ericsson to successfully integrate Envivio and to achieve expected benefits, business and economic conditions and growth trends in the industry, customer markets and various geographic regions, global economic conditions and uncertainties in the geopolitical environment and other risk factors set forth in Ericssons most recent reports on Form 10-K and Form 10-Q.
Any forward-looking statements in this release are based on limited information currently available to Ericsson, which is subject to change, and Ericsson will not necessarily update the information.
NOTES TO EDITORS
Ericsson is the driving force behind the Networked Society - a world leader in communications technology and services. Our long-term relationships with every major telecom operator in the world allow people, business and society to fulfill their potential and create a more sustainable future.
Our services, software and infrastructure - especially in mobility, broadband and the cloud - are enabling the telecom industry and other sectors to do better business, increase efficiency, improve the user experience and capture new opportunities.
With approximately 115,000 professionals and customers in 180 countries, we combine global scale with technology and services leadership. We support networks that connect more than 2.5 billion subscribers. Forty percent of the worlds mobile traffic is carried over Ericsson networks. And our investments in research and development ensure that our solutions - and our customers - stay in front.
Founded in 1876, Ericsson has its headquarters in Stockholm, Sweden. Net sales in 2014 were SEK 228.0 billion (USD 33.1 billion). Ericsson is listed on NASDAQ OMX stock exchange in Stockholm and the NASDAQ in New York.
www.ericsson.com
www.ericsson.com/news
www.twitter.com/ericssonpress
www.facebook.com/ericsson
www.youtube.com/ericsson
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Communications
Phone: +46 10 719 69 92
E-mail: media.relations@ericsson.com
Ericsson Investor Relations
Phone: +46 10 719 00 00
E-mail: investor.relations@ericsson.com
LINK: | http://www.ericsson.com/uk/thecompany/press/releases/2015/10/1961677... |
See more stories from ericsson |
Most recent headlines
04/08/2024
Dalet Appoints Santiago Solanas as CEO to Lead Next Era of Growth and Innovation
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet and Veritone Reach Agreement to Distribute, Transact and Monetize Media Archives
Dalet, a leading technology and service provider for media-rich organizations, a...
10/05/2024
The Greatest Night in Pop Proves That We're Most Powerful as a Collective
Lionel Richie (Photo by George Pimentel/Shutterstock for Sundance)...
10/05/2024
Give Me the Backstory: Get to Know Arun Bhattarai and Dorottya Zurb, the Filmmakers Behind Agent of Happiness
By Lucy Spicer One of the most exciting things about the Sundance Film Festival...
10/05/2024
SBS announces Voyager lead singer Danny Estrin as Australia's spokesperson for the 2024 Eurovision Song Contest jury
SBS announces Voyager lead singer Danny Estrin as Australia's spokesperson f...
10/05/2024
UK Ministry of Defence Selects L3Harris T4 Robots to Assist with Explosive Ordnance Disposal Missions
The T4's best-in-class manipulator arm reach and lift strength, patented sta...
10/05/2024
A True Industry Partner for the Western Australian Police Force
L3Harris, together with partner Radlink Communications, is delivering communications terminals for the Western Australian Police Force (WA Police Force) leverag...
10/05/2024
Survey: TV Declines as Preferred Source of Local News
A major new survey and study of local news reveals a number of unsettling trends for broadcasters. Key findings from the Pew Research Center survey include a de...
10/05/2024
LOBO Launches Standalone Live-Action Division With Impressive Roster of Directors
LOBO Launches Standalone Live-Action Division With Impressive Roster of Director...
10/05/2024
Limecraft Announces New Platform Update and Preview of MI at MPTS 2024
Limecraft Announces New Platform Update and Preview of MI at MPTS 2024 Brie Clayton May 10, 2024 0 Comments Accompanying image shows the Limecraft Act...
10/05/2024
Berklee Announces 2024 Songs for Social Change Contest Winners
Berklee Announces 2024 Songs for Social Change Contest Winners Student songwriters shine in the annual contest that recognizes music with a socially conscious...
10/05/2024
Meet Graduates from Berklees Class of 2024
Meet Graduates from Berklees Class of 2024 Members of this years graduating class reflect on their proudest moments at Berklee and look ahead to whats next. ...
10/05/2024
Zille Media aims to enhance media accessibility with Audio Description Editor
The company has worked with Motion Picture Solutions (MPS) on the development of the solution, which sits in the cloud-native Zille Platform By Jenny Priestley...
10/05/2024
Meet the head of entertainment
From The Tube and Top of the Pops to head of entertainment at 1185 Films, Chris Cowey tells TVBEurope about his journey through the ranks during a time of chang...
10/05/2024
Dimension bolsters senior team with four new appointments
Dimension said its new hires signal its investment in creative new production techniques for feature films, episodic series, music videos and more By Matthew C...
10/05/2024
Allen Media Group, Hawaiian Telcom Sign Multi-Year Distribution Deal
LOS ANGELES Byron Allen's Allen Media Group (AMG) has announced a multi-year comprehensive portfolio agreement with Hawaiian Telcom for continued carriage o...
10/05/2024
LG Ad Solutions to Adopt Unified ID 2.0
MOUNTAIN VIEW, Calif. LG Ad Solutions has announced that it has started to integrate the Unified ID 2.0 solution (UID2) into its platform....
10/05/2024
CBS Sports Expands Streaming Coverage of National Women's Soccer League
CBS Sports has expanded its partnership with the National Women's Soccer League by adding multiplatform coverage of 22 additional regular season matches. Th...
10/05/2024
Sinclair Prebooks $77M in Political Ads
Sinclair's Q1 2024 financial report once again highlighted the growing importance of political advertising for broadcasters at a time when core TV advertisi...
10/05/2024
Nexstar Reports Record Q1 Revenue
IRVING, TEXAS Nexstar reported record first quarter net revenue of $1.28 billion, up 2.1%, thanks to higher distribution revenue. But advertising revenue at the...
10/05/2024
Tegna Names David Loving President & GM of KHOU and KTBU in Houston
TYSONS, Va. Tegna Inc. has named David Loving president and general manager at KHOU, the CBS affiliate, and KTBU, Tegna's stations serving Houston, Texas, e...
10/05/2024
New FILM LOOK CREATOR in DaVinci Resolve 19 will put LUT creators out of business!
New FILM LOOK CREATOR in DaVinci Resolve 19 will put LUT creators out of busines...
10/05/2024
Spotted at CBC
Capitol Broadcasting employees frequently walk past photo shoots in progress when leaving work in the evenings. The WRAL Gardens and the striking architecture o...
10/05/2024
Berklee and Audio Engineering Society to Host Symposium on AI in Music
Berklee and Audio Engineering Society to Host Symposium on AI in Music The inaugural AES International Symposium on AI and the Musician will highlight excitin...
10/05/2024
LG Ad Solutions Integrating Trade Desk's Unified ID 2.0
LG Ad Solutions, the advertising arm of smart-TV maker LG Electronics, said it has begun to integrate the Unified ID 2.0 identity system developed by The Trade ...
10/05/2024
NBC Affiliates To Get Cut-Ins During Olympic Coverage To Promote Local News
NBC and its affiliates have worked out an arrangement that will give affiliates 90-second cut-ins during daytime network coverage of the Paris Olympic games....
10/05/2024
NBC Sends Leslie Jones to Paris for Offbeat Olympics Coverage
Comedian Leslie Jones is joining NBCUniversal's Olympics coverage this summer as what NBCU calls chief super fan commentator. She had a similar role at NB...
10/05/2024
Brooke Shields Stars in Netflix Film Mother of the Bride'
Brooke Shields stars in the rom-com Mother of the Bride, which premieres on Netflix May 9. Mark Waters directs the film, about a destination wedding in Thailand...
10/05/2024
SVG Rewind: NBC Sports' Senior Producer Lindsay Schanzer, Director Kaare Numme Reflect on Historic Photo Finish at Kentucky Derby
SVG Rewind: NBC Sports' Senior Producer Lindsay Schanzer, Director Kaare Num...
10/05/2024
SVG's Sports Content Management Forum Agenda Unveiled, Register Now for July 24 Event in NYC
SVG's Sports Content Management Forum Agenda Unveiled, Register Now for July...
10/05/2024
148th Westminster Dog Show: FOX Sports Calls USTA Billie Jean King National Tennis Center Home for Second Straight Year
148th Westminster Dog Show: FOX Sports Calls USTA Billie Jean King National Tenn...
10/05/2024
Skeem Saam: Thursday's episode, 9 May 2024 [video]
Skeem Saam: Thursday's episode, 9 May 2024 [video]Missed an episode of Skeem Saam? No problem! Watch the latest episode of your favourite South African soap...
10/05/2024
Prison Journalism: You think the streets are crazy?
Prison Journalism: You think the streets are crazy?Wesley Leong was incarcerated at the age of 15 in 1996 at Pollsmoor Prison. He is currently part of Restore...
10/05/2024
Tonight on Smoke and Mirrors: Fanyana finally gives in to Lilly's advances
Tonight on Smoke and Mirrors: Fanyana finally gives in to Lilly's advancesDon't miss Friday, 10 May's riveting episode of South African soapie Smoke...
09/05/2024
Billie Eilish and Spotify Invite You Inside the Mysterious Universe of HIT ME HARD AND SOFT'
Billie Eilish fans have been waiting with bated breath for her third studio albu...
09/05/2024
12 Artists, 6 Countries, Endless Talent: Meet the RADAR Latin America Class of 2024
From reggaeton to M sica Mexicana, Latin artists are reshaping the rhythm of glo...
09/05/2024
12 Artistas, 6 pases, talento infinito: Conoce a la clase RADAR Latinoamrica del 2024
Desde el reggaet n hasta la M sica Mexicana, los artistas latinos est n dando fo...
09/05/2024
Join Costa Georgiadis, Melissa Leong & Samuel Johnson For New Ground-breaking Series: The Hospital: In The Deep End
Join Costa Georgiadis, Melissa Leong & Samuel Johnson For New Ground-breaking Se...
09/05/2024
Alone Australia audience continues to grow
Alone Australia audience continues to grow 9 May, 2024 Media releases The program continues to deliver for SBS with significant uplifts in digital BVOD vie...
09/05/2024
Factories of the Future: Aerojet Rocketdyne Completes Key Milestones in Expansion and Modernization Effort
Aerojet Rocketdyne is achieving key milestones executing the $215.6M Cooperative...
09/05/2024
Join Calrec at MPTS 2024
Join Calrec at MPTS 2024 | May 15 -16 | Booth A40 | Olympia, London We're looking forward to meeting up with customers and partners at this year's Media...
09/05/2024
NHL Draft to be First Live Televised Event from Vegas' Sphere
The 2024 Upper Deck NHL Draft will be held at Sphere in Las Vegas on Friday, June 28 and Saturday, June 29, marking the first time the event will be held in Las...
09/05/2024
WBD Nears 100M Streaming Subs, Streaming Profits Up
NEW YORK In its Q1 2024 earnings report, Warner Bros. Discovery continued to see growth in its streaming operations, adding 2 million streaming subs in Q1 2024 ...
09/05/2024
Custom Consoles Unveils M-Desk Refinements
LEIGHTON BUZZARD, U.K. Custom Consoles has announced refinements to its M-Desk Technical HA heavy duty height-adjustable desk workstation....
09/05/2024
Veritone Rolls Out AI Consulting, Services Group
DENVER Veritone has launched a consulting and services group focused on bridging the marketplace gap it says exists for seamless artificial intelligence (AI) im...
09/05/2024
How sound (and the technology behind it) can set the tone and enhance emotions in film and TV
Sefi Carmel, CEO and founder of SphereTrax, talks about the importance of the so...
09/05/2024
Yale University's Center for Collaborative Arts and Media (CCAM) Cultivates Creativity with Blackmagic Design
Yale University's Center for Collaborative Arts and Media (CCAM) Cultivates ...
09/05/2024
Blender: Awesome Rack Focus Rig
Blender: Awesome Rack Focus Rig Simon Ubsdell May 9, 2024 0 Comments In which we build a focusing rig in the Blender compositor to enable selective fo...
09/05/2024
Peacock Orders The Office' Offshoot
Peacock has picked up a series from Greg Daniels, who developed The Office for NBC, that is set in the same universe, according to the network, as the NBC hit...
09/05/2024
Sinclair Net Income Drops To $23 Million in First Quarter
Sinclair reported lower net income in the first quarter as distribution revenues rose and ad revenue excluding political spending dipped....