Ericsson has today completed the acquisition of Envivio, first announced last month. The transaction was completed through a merger of its subsidiary, Cindy Acquisition Corporation, with and into Envivio, which survives the merger as a wholly-owned subsidiary of Ericsson.
Envivio is a specialist 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 is expected to help strengthen Ericsson's position in the TV and media markets. It will enable Ericsson's customers to deploy new technologies and agile video processing, and to develop new services that engage TV consumers.
The uniting of Envivio's pioneering software solutions and Ericsson's strength in the marketplace is a great combination for our customers and stockholders, said Julien Sign s, founder and CEO of Envivio. Ericsson shares a similar vision for the future of video processing and shift to software defined and virtualised encoding solutions. Ericsson brings tremendous resources, a broad product and solutions portfolio and reach that will accelerate the adoption of Envivio's software-based video solutions.
As part of Ericsson's TV and media business, Envivio will continue to work with its customers and partners to develop its current software based video solutions for video processing, delivery and monetisation. The deal will allow Envivio's customers to access Ericsson's full portfolio of products, solutions, and global services.
Our consumer research clearly shows that viewers are demanding TV on their terms on any device, and expecting experiences that continually evolve. We are committed to offering our customers a clear path towards fully agile cloud agnostic platforms that delight TV consumers, said Per Borgklint, senior vice president and head of business unit support solutions at Ericsson, who welcomed Envivo to the company, commenting that The combination will strengthen our encoding position with both custom silicon and pure software encoding, delivering performance and flexibility.
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Ericsson has today completed the acquisition of Envivio, first announced last month. The transaction was completed through a merger of its subsidiary, Cindy Acquisition Corporation, with and into Envivio, which survives the merger as a wholly-owned subsidiary of Ericsson.
