PxPixel
Ericsson Closes Envivio Acquisition - Broadcasting & Cable

Ericsson Closes Envivio Acquisition

Announced $125M deal on Sept. 10
Author:
Publish date:

Ericsson said it has closed its acquisition of multiscreen video specialist Envivio, noting that the transaction was completed through a merger of its indirect wholly owned subsidiary, Cindy Acquisition Corp., with and into Envivio.

Ericsson and Envivo, a maker of hardware and software-based encoding products, announced the $125 million deal on Sept. 10.

Ericsson said the merger follows the successful completion of the tender offer by Ericsson for all shares in Envivio for $4.10 per share.  As of expiration of the tender offer, 26,385,322 shares (including 58,467 shares pursuant to guaranteed delivery procedures) were validly tendered and not withdrawn in the tender offer, representing in excess of 93% of Envivio's issued and outstanding shares, Ericsson said.

For the full story go to Multichannel.com.

Related