OTTAWA, Nov. 18, 2011 /CNW/ - Espial Group Inc. ("Espial" or the
"Company") (TSX:ESP) today announced the completion of its previously
announced exploration of strategic alternatives. As previously
announced, the Company's strategic review was conducted under the
leadership of the Independent Special Committee of the Board of
Directors and undertaken with this committee's financial advisor,
Morgan Keegan. After careful consideration of alternatives, the Company
has determined that shareholders' interests will be best served by
continuing to operate as a stand-alone entity.
Espial is a leading supplier of digital TV and IPTV software and
solutions to service providers in the cable, telecommunications,
hospitality and consumer electronics industries. Espial's products
include middleware, video-on-demand and browser solutions help
implement diverse pay-TV and Internet TV business models. Over 10
million licenses of its patented software are in use across the world.
Espial is headquartered in Ottawa, Canada and has offices in the United
States, Europe and Asia.
Forward Looking Information
This press release contains information that is forward looking
information with respect to Espial within the meaning of Section
138.4(9) of the Ontario Securities Act (forward looking statements) and other applicable securities laws. In
some cases, forward-looking information can be identified by the use of
terms such as "may", "will", "should", "expect", "plan", "anticipate",
"believe", "intend", "estimate", "predict", "potential", "continue" or
the negative of these terms or other similar expressions concerning
matters that are not historical facts. In particular, statements or
assumptions about anticipated market trends, economic conditions,
benefits of new customer and partner relationships, future
opportunities for the company and products and any other statements
regarding Espial's objectives (and strategies to achieve such
objectives), future expectations, beliefs, goals or prospects are or
involve forward-looking information.
Forward-looking information is based on certain factors and assumptions.
While the company considers these assumptions to be reasonable based on
information currently available to it, they may prove to be incorrect.
Forward-looking information, by its nature necessarily involves known
and unknown risks and uncertainties. A number of factors could cause
actual results to differ materially from those in the forward-looking
statements or could cause our current objectives and strategies to
change, including but not limited to changing conditions and other
risks associated with the on-demand TV software industry and the market
segments in which Espial operates, competition, Espial's ability on a
stand-alone basis to effectively develop its distribution channels and
generate increased demand for its products, economic conditions,
technological change, unanticipated changes in our costs, regulatory
changes, litigation, the emergence of new opportunities, many of which
are beyond our control and current expectation or knowledge. Additional
risks and uncertainties affecting Espial can be found in Management's
Discussion and Analysis of Results of Operations and Financial
Condition for the fiscal year ended December 31, 2010 filed on SEDAR at
www.sedar.com. If any of these risks or uncertainties were to materialize, or if the
factors and assumptions underlying the forward-looking information were
to prove incorrect, actual results could vary materially from those
that are expressed or implied by the forward-looking information
contained herein and our current objectives or strategies may change.
Espial assumes no obligation to update or revise any forward looking
statements, whether as a result of new information, future events or
otherwise, except as required by law. Readers are cautioned not to
place undue reliance on these forward-looking statements that speak
only as of the date hereof.
SOURCE ESPIAL GROUP
For further information:
For further information visit www.espial.com or contact Carl Smith, Chief Financial Officer, at 613-230-4770