SCISYS AND ANNOVA: A MOVE TO THE FUTURE
The SCISYS group of software and IT solutions today shows its commitment to the media & broadcast sector by acquiring ANNOVA Systems GmbH, a leading German supplier of newsroom software systems.
SCISYS acquires full ownership of ANNOVA and allows the joint businesses to focus on growth and further engagement in the media & broadcast sectors globally.
ANNOVA has achieved significant growth as a technology leader creating innovative newsroom solutions through its OpenMedia product suite, while SCISYS is a leading provider of premium radio broadcasting solutions in four continents through its dira! solutions.
ANNOVA s OpenMedia solutions are aimed at journalistic workflows and cover all media types, including television, radio and online solutions. It has a strong customer base, with 50,000 daily users among an impressive array of public and commercial broadcasters across Europe, including the BBC under a 12-year contract.
With ANNOVA becoming part of the SCISYS Group, the enlarged business will create complementary opportunities, better access to new untapped regions and foster innovation.
The two companies enjoy an excellent cultural match, common core values and shared business goals and ambitions.
The combined capabilities, expertise and experience across the group will create valuable, new and sustained synergies benefiting shareholders, customers and partners in the near future.
The transaction includes an initial consideration of 11.35m (£9.7m) in cash and a three-year earn-out of up to 16.48m (£14.1m) in cash or shares subject to achievement of key commercial targets. The full financial details are available in the RNS announcement released today.
Commenting, Mike Love, Chairman of SCISYS, said:
Our enlarged operations will be able to offer cutting-edge software solutions to the international media and broadcast sector with ANNOVA's OpenMedia product strongly complementing the dira! product suite of our existing Media & Broadcast division. Both products and solutions target similar broadcast clients providing strong scope for synergies.
Commenting, Klaus Heidrich, CEO of SCISYS, added:
Joining forces with ANNOVA in a great way adds to our growth aspirations and to our objective of enhanced margins, and also is an excellent cultural fit. I am glad to welcome the entire team at ANNOVA as new members of the SCISYS Group.
ANNOVA will continue to operate under its current name and product portfolio, while CEO Michael Sch ller will continue to lead his dedicated, proven team as usual from the company's Munich headquarters.
Michael Sch ller, the CEO and founder of ANNOVA, added:
Joining forces with SCISYS is an exciting step forward for the ANNOVA team, enabling us to take the business to a new level. With SCISYS we get a perfect partner, providing us with an opportunity to offer customers a new best-of-breed solution with exciting synergies across our product portfolios. The entire team at ANNOVA is delighted to be joining forces with SCISYS on a common path to win new customers and innovative future projects.
Please visit www.annova.tv or www.scisys.co.uk for further details.
About SCISYS PLC
Employing nearly 450 staff, SCISYS group is a leading developer of Information and Communications Technology services, e-Business, web and mobile applications and advanced technology solutions.
The Company operates in a broad spectrum of market sectors including media & broadcast, government and defence, space and commercial sectors. SCISYS clients are predominantly blue-chip and public-sector organisations.
Customers include the Environment Agency, the Ministry of Defence, Airbus Defence & Space, Arqiva, Vodafone, the European Space Agency, Eumetsat, the BBC, RNLI, AON, Interflora and the National Trust. The Company has UK offices in Chippenham, Bristol, Leicester and Reading, and two offices in Germany.
About ANNOVA Systems GmbH
ANNOVA Systems GmbH, headquartered in Munich/Germany, is the provider of the market-leading newsroom computer solution OpenMedia. With more than 70 employees, and subsidiaries in London and Paris, ANNOVA has offered end-to-end solutions for modern news workflows to both public and private broadcasters in TV, radio and online environments for more than 20 years.
With more than 50,000 users worldwide, including the ARD Network, the BBC, SRG, Radio France, RTL, TRK among others. ANNOVA is known as one of the most innovative solution providers of modern journalistic workflows.
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SCISYS AND ANNOVA: A MOVE TO THE FUTURE
