Mergers and Acquistions News
Categories: Telecoms
September 10th 2010, 15:36PM
Canada-based Miranda Technologies has announced it has acquired the UK's OmniBus Systems Ltd for C$48.7 million (£30.5 million), from Palamon Capital Partners, a European private equity firm.
Miranda, a global provider of infrastructure, playout and monitoring equipment for broadcast firms, will use the acquisition of OmniBus, who provide media management and delivery solutions for TV and web broadcasters, to significantly expand into the television and internet broadcasting sector.
"With its compelling IT based playout and automation solution, called iTX, OmniBus is leading broadcasters away from multi-vendor, hardware-based systems, towards a single fully integrated, software platform," said Strath Goodship, Miranda’s president and chief executive officer.
OmniBus posted revenues and EBITDA, for the 12 months up to 30th June 2010, of about CDN$24 million (£15 million) and CDN$4.0 million (£2.5 million), respectively. The firm's customers include the BBC, Fox, AT&T and Corus.
Miranda also said it expected the media management and delivery market segment to grow by approximately 24 per cent over the next two years.
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