OTTAWA, Feb. 4, 2013 /CNW/ - Espial® Group Inc. ("Espial" or the "Company"), (TSX: ESP), a leader in on-demand TV software and solutions, today announced that it has completed the previously-announced acquisition of ANT plc ("ANT"). After initially entering into a co-operation agreement with ANT on Nov. 30, 2012, Espial has purchased all of the outstanding shares of ANT in exchange for all cash consideration of £0.205 per outstanding share. The acquisition values the issued ordinary share capital of ANT at approximately £5 million.
"Delivering a high-quality user experience across set-top boxes, smart TVs, tablets and smartphones is crucial to the success of today's TV service providers," said Jaison Dolvane, CEO of Espial. "The ANT acquisition further strengthens Espial's position as an HTML5 market leader to help to accelerate TV service providers' transition to IP video delivery."
ANT, headquartered in Cambridge, UK, provides IP, hybrid, and connected TV products and services. Its customers include major TV manufacturers, set-top box vendors, broadcasters, and service providers. ANT has successfully deployed high-performance software featuring rich HTML5 user experiences across set-top boxes, tablets, and smartphones. The company has also attained significant industry thought leadership through standards initiatives as a founding member of HbbTV, Europe's leading HTML5-based hybrid broadcast broadband TV standard.
About Espial (www.espial.com)
Espial is a leading supplier of digital TV and IPTV software and solutions to cable MSOs and telecommunications operators as well as consumer electronics manufacturers. Espial's middleware, video-on-demand, and browser products power a diverse range of pay-TV and Internet TV business models. Over 10 million licenses of its patented software are in use across the world. Espial is headquartered in Ottawa, Canada and has offices in the United States, Europe, and Asia. Visit www.espial.com or contact via phone at +1 613 230 4770.
About ANT (www.antplc.com)
ANT plc develops and deploys embedded software solutions and services for the TV industry. Its Galio Suite, a browser, client and applications stack, is an open standards-based, flexible application and middleware solution for a wide range of consumer TV platforms. Using its experience of TV, ANT provides powerful solutions to its customers by combining consultancy and engineering services with its highly capable platform products.
ANT's software has been extensively deployed by customers throughout the world including ADB, Amino, Bouygues Telecom, Cisco, Chunghwa Telecom, Coship, HwaCom, France Telecom, Humax, Pirelli, Sagemcom, Samsung, Technicolour, Telecom Italia, and YouSee. ANT plc's shares are listed on AIM, a London Stock Exchange regulated market, under the ticker ANTP (Reuters: ANTP.L, Bloomberg: ANTP.LN).
Forward Looking Information
This press release contains information that is forward looking information with respect to Espial within the meaning of Section 138.4(9) of the Ontario Securities Act (forward looking statements) and other applicable securities laws. In some cases, forward-looking information can be identified by the use of terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or the negative of these terms or other similar expressions concerning matters that are not historical facts. In particular, statements or assumptions about the anticipated benefits and synergies of the acquisition of ANT, economic conditions, benefits of new customer and partner relationships, future opportunities for the company and products and any other statements regarding Espial's objectives (and strategies to achieve such objectives), future expectations, beliefs, goals or prospects are or involve forward-looking information.
Forward-looking information is based on certain factors and assumptions. While the company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking information, by its nature necessarily involves known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those in the forward-looking statements or could cause our current objectives and strategies to change, including but not limited to Espial's ability to successful integrate ANT's operations into its existing operations, changing conditions and other risks associated with the on-demand TV software industry and the market segments in which Espial operates, competition, Espial's ability to effectively develop its distribution channels and generate increased demand for its products, economic conditions, technological change, unanticipated changes in our costs, regulatory changes, litigation, the emergence of new opportunities, many of which are beyond our control and current expectation or knowledge.
Additional risks and uncertainties affecting Espial can be found in Management's Discussion and Analysis of Results of Operations and Financial Condition for the fiscal year ended December 31, 2011 filed on SEDAR at www.sedar.com. If any of these risks or uncertainties were to materialize, or if the factors and assumptions underlying the forward-looking information were to prove incorrect, actual results could vary materially from those that are expressed or implied by the forward-looking information contained herein and our current objectives or strategies may change. Espial assumes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.
SOURCE ESPIAL GROUP