Consolidation in the broadcast technology sector continued, with the acquisition of the U.S. software company VizuAll by the Swedish company Net Insight for about $14 million in cash.
VizuAll trades under the name ScheduALL.
The acquisition price for 100% of the ScheduALL shares will be paid in cash at closing, which is expected on Oct. 1, and will be adjusted for the actual level of debt, working capital and cash, the companies reported.
Net Insight is a provider of live and on demand media transport while ScheduALL provides enterprise resource management software that is widely used by media, broadcast and transmission companies.
Net Insight reported that the deal should strengthen its position in media services and workflow orchestration offerings and complement its existing transmission technologies.
"This is a perfect match for Net Insight,” said Fredrik Tumegård, CEO of Net Insight in a statement. “We are not only executing on our strategy, we are also taking a giant leap towards our vision of creating a unified and global media market place for both service providers and media companies. The acquisition also leads to a stronger customer offering which enables us to take a broader and more strategic role towards service providers and media companies. We also want to welcome our new colleagues and we are looking forward to grow together and create further success."
In its 2014 fiscal year, ScheduALL has revenue of about $10.6 million and a net profit of about $0.7 million.
The companies have had a strategic partnership for several years and had implemented a SDN solution for service providers.