Thursday, December 16, 2004

TANDBERG TV to Acquire N2 Broadband

TANDBERG Television agreed to acquire N2 Broadband, Inc., a provider of scalable, open-platform solutions for on-demand entertainment, in a cash and stock transaction valued at $110 million to $130 million.

The companies said their merger would create a global force in the provision of enabling technologies for the delivery of digital multimedia content. TANDBERG Television is a market leader in digital video compression, offering a portfolio of standard definition and high definition compression solutions for MPEG-2, MPEG-4 AVC and SMPTE VC-1. The company is the primary supplier of digital cable head ends in Europe, with a strong position in the global DTH satellite market and a market lead in the provision of IPTV delivery systems to telcos around the world.

N2 Broadband provides an open-platform solution that enables network operators and content providers to efficiently and confidently offer on-demand services. The company serves the North American cable market and has established relationships with the top cable operators, and an engineering staff intimately familiar with current and next generation cable system architectures.

"The North American market represents the largest growth opportunity for TANDBERG Television's products and services over the next several years and N2 Broadband will immediately strengthen the route to market for our video compression systems into the US cable market," said Eric Cooney, President and CEO of TANDBERG Television. "Of equal importance over the long term is the expanding worldwide market for on-demand services such as VOD. Our pole position in European and Asian cable markets, as well as our global lead in the telco IPTV segment, provides an established route to market for N2 Broadband's industry-leading VOD software."http://www.tandbergtv.com

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