Acquisition expands Enghouse Interactive product portfolio
MARKHAM, ON and HACKENSACK, NJ, May 15, 2019 /PRNewswire/ - Enghouse Systems Limited (TSX:ENGH) announced today it has acquired Vidyo, Inc. for a purchase price of approximately $40 million. Vidyo's annual revenue is approximately $60 million.
Headquartered in Hackensack, New Jersey, Vidyo is a provider of enterprise-class video software solutions that support visual communications across diverse end-points, networks of varying bandwidth and geographically dispersed locations. The company's infrastructure software platform leverages patented video routing, management and interoperability technologies to deliver best-in-class video quality, reliability, scalability and security. Delivered in the cloud, on-premise or as a hybrid solution, Vidyo enables customers to more efficiently collaborate, interact and engage.
Vidyo also offers a broad API framework that allows enterprise developers to rapidly embed video communications into third-party applications, workflows and a broad range of devices. The company focuses on select vertical markets, particularly healthcare and financial institutions, where video quality, reliability and end-market specialization are essential requirements. Vidyo is deployed in approximately 400 hospital networks and in approximately 120 financial institutions. Vidyo also provides visual communications within the broader enterprise collaboration market and in emerging public safety, field services and IoT use cases. The company's platform and applications are used by over 1,700 customers, including some of the world's leading brands within Vidyo's focus markets.
"Vidyo's suite of real-time video collaboration solutions extends our enterprise product offering into media and content and is complementary with Enghouse's portfolio across all our business sectors," said Steve Sadler, Chairman & CEO of Enghouse. "We are very pleased to welcome Vidyo's customers, employees and partners to the Enghouse organization."
"We're excited to join Enghouse because of the great product fit and our shared vision" said Michael Patsalos-Fox, Chairman and CEO of Vidyo. "Enghouse gives us the opportunity to amplify our product innovation, service, and support making this a great transaction for Vidyo's customers and partners."
Enghouse Systems Limited is a leading global provider of enterprise software solutions serving a variety of vertical markets. Its strategy is to build a more diverse enterprise software company through strategic acquisitions and managed growth within its business sectors: Contact Center, Networks (OSS/BSS) and Transportation/Public Safety. Enghouse shares are listed on the Toronto Stock Exchange (TSX:ENGH). Further information about Enghouse is available at www.enghouse.com.
Vidyo enriches people's lives by embedding real-time video into digital communications in the moments that matter most. Millions of people around the world connect visually every day through Vidyo's secure, scalable technology and cloud-based services. Its patented platform integrates with virtually any application environment, network, and device to deliver the highest quality experiences that strengthen teams, build trust, solidify relationships, and improve quality of life for everyone.
Learn more at www.vidyo.com
SOURCE Enghouse Systems Limited