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 management.
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 [email protected]; Novra Technologies Inc., 900-330 St. Mary Avenue, Winnipeg, MB R3C 3Z5