Haivision Signs Agreement to Acquire AVIWEST

Transaction adds 5G mobile technology and network bonding to Haivisions industry-leading ultra-low latency video streaming and networking solutions

Montreal, Canada - February 24, 2022 - Haivision Systems Inc. ( Haivision ) (TSX:HAI), a leading global provider of mission-critical, real-time video streaming and networking solutions, today announced an agreement to acquire AVIWEST S.A.S. ( Aviwest ). With the addition of Aviwest, Haivision will have a comprehensive video contribution solution portfolio to address the growing demand for live, high-quality video content in broadcast, sports, and live event production.

This important acquisition by Haivision will combine two industry leaders in low latency video contribution. Haivision is a premier vendor for low latency wired broadcast video networks; Aviwest is a premier vendor for low latency wireless broadcast video networks. The acquisition will bring mobile networking (5G/4G cellular) and patented network bonding capabilities to Haivision's solution portfolio. Combined with Aviwest, Haivision will be an unmatched provider of low latency broadcast technology solutions for any live event.

Founded in 2008, Aviwest is a world-leading provider of mobile IP-based video contribution systems and a pioneer in transmission of live video over cellular networks. The company has a history of innovation including many world firsts: portable cellular video transmission, live video transmission over a 4G network implementing QoS, and live 4K video transmission over a 5G network. Aviwest has also received two Emmy Awards for its SST networking technology for reliable transmission of video over bonded networks.

Globally, hundreds of top broadcasters, television stations, and production houses trust and rely on Aviwest technology in their day-to-day coverage of sporting and other live events. Furthermore, Aviwest solutions are used extensively in support of major international sporting events. Headquartered in Rennes (Saint-Gr goire), France, Aviwest has more than 70 employees with field operations globally.

With the addition of Aviwest, Haivision will now lead in both fixed and mobile networks in providing ultra-low latency video solutions, said Mirko Wicha, Haivision President and CEO. We are very excited to welcome the amazing team at Aviwest and its customers to the Haivision family, and to provide broadcasters globally a trusted and proven vendor to solve their video contribution challenges.

Together with Haivision, our solutions will bring customers maximum live video flexibility with ultra-low latency, highly reliable network connectivity, and pristine video quality, said Ronan Poullaouec, CTO and Co-Founder of Aviwest. With sub-200ms glass-to-glass latency over 5G networks, our solutions are revolutionizing remote production workflows by giving broadcasters more options for contributing real-time content for premium live events and sports coverage.

On March 16 at 9 am ET, Haivision will host a virtual CTO discussion, Haivision & Aviwest: The Future of Broadcast Video Contribution, sharing the strategy and vision of the acquisition. Featuring Mahmoud Al-Daccak, CTO of Haivision, and Ronan Poullaouec, CTO of Aviwest, attendees will learn how this important acquisition is poised to change the face of broadcast contribution. Register to attend the webinar here:

https://www.haivision.com/resources/webinars/cto-discussion/

Key Transaction Highlights:

Haivision is acquiring Aviwest to expand its technology and solution portfolio with 5G transmission, mobile video contribution, and network bonding technology. This acquisition will allow Haivision to:

Deliver a comprehensive solution portfolio for low latency video contribution over fixed and mobile networks.

Provide low latency synchronized stream delivery to address the needs of remote production and cloud production workflows.

Benefit from all cross-selling opportunities between the companies' highly complementary offerings.

Incorporate Aviwest's patented network bonding technology across Haivision's products and leverage both Emmy award-winning network transport protocols, SRT and SST.

Extend Aviwest 5G and network bonding technology into the growing government and public safety markets.

Significantly expand Aviwest's sales presence into the North American market.

Derive long term product development efficiencies in video encoding, cloud connectivity, and network management.

Gain operational synergies in supply chain management, production, global 24/7 support, sales, and marketing.

Establish Haivision's second largest development facility worldwide in France, making Europe home to over half of Haivision's development team.

Expand its global workforce to over 400 employees.

Transaction Details:

Haivision will acquire 100% of the shares of Aviwest on a cash-free and debt-free basis for cash consideration of 20.5 million (approximately C$29.6 million), subject to customary adjustments. Aviwest had approximate revenues of 10.5 million (approximately C$15.1million) in 2021. The closing is contingent upon the satisfaction or waiver of all closing conditions, and the receipt of certain approvals, including obtaining the advisory opinion of Aviwest's Works Council (employee representatives) as mandated by French Law all of which are expected to be received within 30 days. The acquisition is expected to be accretive by the end of Haivision's second quarter.

About Haivision

Haivision is a leading global provider of mission-critical, real-time video streaming and networking solutions. Our connected cloud and intelligent edge technologies enable organizations globally to engage audiences, enhance collaboration, and support decision making. We provide high quality, low latency, secure, and reliable live video at a global scale. Haivision o

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