Merger signals significant industry consolidation for radio,
datacasting, and digital signage solutions
WINNIPEG, Feb. 5, 2014 /CNW/ - Novra Technologies, Inc. (TSX Venture
Exchange: NVI.V), a leading Global provider of premium products and
solutions to the datacasting, digital signage and IP-TV markets, today
announced that it will acquire Wegener Corporation of Johns Creek,
Georgia and Westport Research Associates, Inc. of Raytown, Missouri.
Novra Technologies has signed term sheets with Wegener Corporation and
Westport Research Associates for Novra to acquire these two companies.
The transaction is subject to Novra's due diligence and the approval of
Wegener Corporation shareholders.
"The product portfolio of the combined companies will provide a powerful
suite of capabilities for large-scale networks in radio broadcasting,
business music, broadcast video, digital signage and IP-TV," stated
Harris Liontas, President and CEO of Novra Technologies, Inc. "Wegener
Corporation and Westport Research Associates, Inc. are not just simple
acquisitions but a merger allowing for the creation of a
solutions-based provider that will offer clients a broader scope of
services and deeper access to industry expertise.
"Representing the first step in Novra Technologies' strategic vision to
combine companies with strong product line, broad install base and
operational synergies, these acquisitions are expected to be completed
in the first or second quarter of 2014."
Combined, the three companies have deployed over 450,000 devices in more
than 50 countries across 6 continents providing content to hundreds of
millions of consumers. The opportunity to integrate industry-leading
software and hardware, both at the entry and enterprise level, will
result in value-added enhancements to existing and future clients.
"This acquisition represents an exciting improvement for Wegener
Corporation, its shareholders, and its customers. There are product
synergies with very little overlap," stated Troy Woodbury, President
and CEO of Wegener Corporation. "Novra Technologies' worldwide
distribution channels strengthen Wegener Corporation's ability to
leverage our extensive installed base of digital signage, broadcast
radio, and private video networks to develop a truly global presence."
"Novra's world-wide market presence and distribution channels expand the
reach of Westport Research Associates' industry leading products beyond
North America," stated Don Cartner, President and CEO of Westport
Research Associates. "We have a significant North American presence in
the business music, weather data distribution and broadcast radio
industries. This acquisition allows Westport Research Associates to
address the large international markets for these products."
About Westport Research Associates, Inc.
Westport Research is privately held and provides custom and innovative
solutions to move and manage media assets for background music, digital
signage, weather, broadcast radio, and movie theaters.
WEGENER® (Wegener Communications, Inc.), a wholly-owned subsidiary of
Wegener Corporation (OTC Pink: WGNR), is an international provider of
digital video and audio solutions for broadcast television, radio,
telco, private and cable networks. With over 30 years experience in
optimizing point-to-multipoint multimedia distribution over satellite,
fiber, and IP networks, WEGENER offers a comprehensive product line
that handles the scheduling, management and delivery of media rich
content to multiple devices, including video screens, computers and
audio devices. WEGENER focuses on long- and short-term strategies for
bandwidth savings, dynamic advertising, live events and affiliate
WEGENER's product line includes: iPump® media servers for file-based and
live broadcasts; COMPEL® Network Control and COMPEL® Conditional Access
for dynamic command, monitoring and addressing of multi-site video,
audio, and data networks; and the Unity® satellite media receivers for
live radio and video broadcasts. Applications served include: digital
signage, linear and file-based TV distribution, linear and file-based
radio distribution, Nielsen rating information, broadcast news
distribution, business music distribution, corporate communications,
video and audio simulcasts.
About Novra Technologies Inc.
Novra Technologies offers premium products and solutions to the
datacasting and digital signage markets. Novra specializes in the
transmission and reception of IP traffic over satellite, cable and
terrestrial communication links. Products offered include broadband
receivers for DVB-S, DVB-S2, DVB-C, and ATSC systems. Novra's IPE
encapsulator products can be used in both DVB and ATSC MPEG2 systems
for datacasting as well as broadband access applications. The NovraLink
digital signage solution integrates Novra's technologies into a
comprehensive multimedia management and distribution system. .
Neither the TSC Venture Exchange nor its Regulatory Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. These
statements are based on current expectations and assumptions that are
subject to risks and uncertainties. Actual results could differ
materially from any future results implied by such forward-looking
statements because of factors discussed in the management discussion
and analysis section of our interim and most recent annual financial
statement or other reports and filings with the TSX Venture Exchange
and applicable Canadian securities regulations. We do not assume any
obligation to update any forward-looking statements.
SOURCE: Novra Technologies Inc.
For further information:
Harris Liontas, President & CEO at (204) 989-4724; Facsimile (204) 989-4640; Email firstname.lastname@example.org; Novra Technologies Inc., 900-330 St. Mary Avenue, Winnipeg, MB R3C 3Z5