Vecima Closes Acquisition of Concurrent
2018年1月2日 - 10:00PM
Vecima Networks Inc. (“Vecima”) (TSX:VCM) is pleased to announce
that it has closed its acquisition of the assets of the Content
Delivery and Storage Business of Concurrent Computer Corporation
(“Concurrent”) (NASDAQ:CCUR), a US-based software and solutions
company that is a leader in the Video on Demand (VoD) and IP Video
Content Delivery space providing breakthrough technologies in the
storage, protection, transformation and delivery of video assets.
Global IP traffic is expected to triple by 2021,
with IP video growing from 73% to 82% of that traffic. The
combination of the two companies’ technologies, Vecima’s
award-winning distributed access platform and Concurrent’s
industry-leading content delivery system, is expected to help serve
a larger base of service provider customers with a compelling
product portfolio designed to address the surge in global Internet
traffic.
“Each of our organizations has strengths and
expertise that we bring to the table, and together we create a
comprehensive networking and entertainment ecosystem capable of
delivering class-leading quality, capacity and performance,” said
Sumit Kumar, President and CEO of Vecima. “With diversified
products, a greater market reach, a superior growth profile, and a
strong balance sheet, we are well positioned to provide enhanced
value to our customers and our shareholders.”
Total cash consideration for the transaction was
US$29.0 million plus a preliminary net working capital adjustment
of $1.47 million.
About ConcurrentConcurrent
(NASDAQ:CCUR) is a global software and solutions company that
develops applications focused on storing, protecting, transforming
and delivering high value media assets. It serves industries
and customers that demand uncompromising performance, reliability
and flexibility to gain a competitive edge, drive meaningful growth
and confidently deliver best-in-class solutions that enrich the
lives of millions of people around the world every day. Visit
www.concurrent.com for further information or follow the company on
Twitter: www.twitter.com/Concurrent_CCUR.
About Vecima NetworksVecima
Networks Inc. (TSX:VCM) is a globally recognized leader in creating
breakthrough technology solutions that empower network service
providers to connect people and enterprises to information and
entertainment worldwide. Vecima products for the cable industry
allow service providers a cost-effective Last Mile Solution® for
both video and broadband access, especially in the demanding
business services market segment. Vecima also provides fleet
managers the key information and analytics they require to
optimally manage their business under the Contigo, Nero Global
Tracking, and FleetLynx brands. More information is available at
our website at www.vecima.com.
Forward-Looking StatementsThis
news release contains “forward-looking information” within the
meaning of applicable securities laws. Forward-looking
information is generally identifiable by use of the words
“believes”, “may”, “plans”, “will”, “anticipates”, “intends”,
“could”, “estimates”, “expects”, “forecasts”, “projects” and
similar expressions, and the negative of such expressions.
Forward-looking information in this news release includes the
following statements:Global IP traffic is expected to triple by
2021, with IP video growing from 73% to 82% of that traffic; The
combination of the two companies’ technologies is expected to help
serve a larger base of service provider customers with a compelling
product portfolio designed to address the surge in global Internet
traffic; Each of our organizations has strengths and expertise that
we bring to the table, and together we create a comprehensive
networking and entertainment ecosystem capable of delivering
class-leading quality, capacity and performance; With diversified
products, a greater market reach, a superior growth profile, and a
strong balance sheet, we are well positioned to provide enhanced
value to our customers and our shareholders.
A more complete discussion of the risks and
uncertainties facing Vecima is disclosed under the heading “Risk
Factors” in the Company’s Annual Information Form dated September
25, 2017, as well as the Company’s continuous disclosure filings
with Canadian securities regulatory authorities available at
www.sedar.com. All forward-looking information herein is qualified
in its entirety by this cautionary statement, and Vecima disclaims
any obligation to revise or update any such forward-looking
information or to publicly announce the result of any revisions to
any of the forward-looking information contained herein to reflect
future results, events or developments, except as required by
law.
Vecima NetworksInvestor
Relations - 250-881-1982invest@vecima.com
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