NEP Enters into Agreement to Acquire CMI
Jul 10, 2015, 01:16 ET
PITTSBURGH and HILVERSUM, Netherlands, July 10, 2015 /PRNewswire/ -- NEP Group Inc. ('NEP') announced today that it has entered into an agreement to acquire Consolidated Media Industries ('CMI'). The acquisition will bring one of Europe's leading providers of innovative video technology and outsourced production solutions into NEP's worldwide network.
The acquisition of CMI expands NEP's reach in Northern Europe, and adds extensive video and media management solutions to NEP's worldwide network. Headquartered in Hilversum in the Netherlands, CMI operates both the DutchView and Infostrada Creative Technology brands. DutchView is one of the leading providers of solutions for remote production and studio production in Northern Europe, and operates ten studios in Amsterdam and Hilversum, a fleet of five high definition mobile units, and two music production vans. Infostrada Creative Technology is one of Europe's leading providers of innovative solutions for the creation, management and distribution of video content. Their offering includes extensive facilities for video ingest, post production, distribution, transcoding, streaming and archiving. Infostrada Creative Technology has developed several proprietary solutions, including a solution for the delivery of Video-on-Demand; an extensive cloud-based workflow platform; a system for automated ingest and logging of content; and an automated system for file QC, storage, transcoding and output. The CMI brands will continue to operate independently under their current management teams.
"We are excited to become part of NEP's growing worldwide network of brands. Their global presence will give us a great opportunity to deliver the broad variety of unique workflow solutions that CMI has developed over the years," said Michiel van Duijvendijk, CEO of CMI.
With the acquisition of CMI, NEP will offer over 120 high-definition (HD) mobile units; HD flypacks, satellite uplink trucks; smaller camera systems and other audio visual packages; specialty and wireless cameras; post-production facilities in Dublin, Oslo, Helsinki, Zurich, Munich, Leuven (Rotselaar) and Hilversum; content management and archive facilities in Hilversum; studio facilities in Los Angeles, New York, Connecticut, London, Sydney, Melbourne, Oslo, Helsinki, Brussels (Londerzeel), Amsterdam and Hilversum; thousands of plasma, LED, and projection video display solutions; a fleet of mobile LED trucks across North America and Europe; as well as an industry-leading team of engineers and technical experts.
Stella Capital Advisors provided investment banking advisory services to NEP, with Jones Day serving as NEP's legal advisors. Macquarie Capital acted as sole financial advisor to CMI. The acquisition is expected to close during the third quarter of 2015, subject to customary closing conditions.
About NEP
NEP provides the technology and know-how to enable clients to produce the worlds' biggest live and broadcast events around the globe. The company is the leading worldwide provider of outsourced production solutions offering technical services for remote production, studio production, video display, host broadcasting and post production. NEP's team of over 1,500 employees are driven by passion and a focus on technical innovation, and together they have supported productions in over 65 countries on all seven continents. Headquartered in the United States, NEP has offices in the United Kingdom, Ireland, the Netherlands, Sweden, Norway, Denmark, Germany, Finland, Switzerland, Belgium, the United Arab Emirates and Australia.
About CMI
Consolidated Media Industries (CMI) is a leading European media technology firm that provides innovative services and solutions for broadcast and digital media. CMI is an expert service provider to the international media industry for the capturing, management, contribution, distribution and monetization of digital media. The company offers an end-to-end production workflow to broadcasters, TV production companies, and rights holders. In addition, CMI delivers services/solutions to the corporate and governmental market.
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SOURCE NEP