Sunday, January 9, 2005

TANDBERG TV to Acquire N2 Broadband for VOD Software

TANDBERG Television agreed to acquire N2 Broadband, a provider of scalable, open-platform solutions for on-demand entertainment, in a cash and stock deal valued at between $110 million to $130 million. N2 Broadband's open platform is currently deployed in the North American cable market. The company is based in Atlanta, Georgia.

TANDBERG Television said the N2 Broadband's standards-based, open solutions are a natural extension of its own core technology and have already been integrated with TANDBERG Television's video compression systems. N2 Broadband's President and CEO, Reggie Bradford, will take up the role of President of TANDBERG Television Americas.

"The acquisition of N2 Broadband will enable us to dramatically expand our North American market presence and augment our total solution offering to include the world's most advanced and open VOD software solution. Both of these factors are important cornerstones for our future success. In particular, 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.


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