Ericsson, Thursday announced its agreement to acquire software-based video encoding firm, Envivio for USD 125 million in a bid to extend its leadership position in the TV and media market as a global end-to-end solution provider. The acquisition will strengthen Ericsson's video compression position, combining its leading position in broadcast and Envivio's leadership in multiscreen cable and telecom.
According to Ericsson, its customers will uniquely benefit from a cutting-edge combination of bespoke hardware and highly optimized pure software encoding that will deliver an accelerated route to next generation UHD/HD services and High-Efficiency Video Coding (HEVC) technology. Envivio's cloud-centric and software-based video capabilities will be a key addition to Ericsson's extensive portfolio of media enrichment, processing, publishing, delivery, and TV platforms, enabling TV experiences on any device.
The San Francisco-based company boasts an installed base of over 400 TV service provider and content owner customers in all markets globally, including some of the Tier 1 operators such as Comcast, Cox Communications, Liberty Global, Sky, Telstra and Time Warner Cable.
Per Borgklint, Senior Vice President and Head of Business Unit Support Solutions at Ericsson
Our consumer research clearly shows that viewers are demanding TV on their terms on any device, and expecting experiences that continually evolve. We are committed to offering our customers a clear path towards fully agile cloud agnostic platforms that delight TV consumers.
