Pico Digital Inc, a provider of multimedia delivery solutions to customers in the broadcast, cable, satellite, and broadband markets, has agreed to acquire the broadcast products business from International Datacasting Corporation, a technology provider for the world’s premier broadcasters in radio, television, data and digital cinema.
The acquisition includes IDC's product portfolio, customers, and supplier relationships. Following closing of the acquisition, the majority of IDC's employees are expected to join Pico Digital.
"IDC has been at the forefront of innovation in the satellite industry for many years," said Ian Lerner, CEO of Pico Digital Inc. "We are very excited to add IDC's product portfolio to our line-up of market leading solutions." He added, "We are committed to building on our combined portfolio to create the most compelling and comprehensive offering for both current and new customers."
The combined business will benefit from an expanded global footprint, including offices in the United States, Canada, Mexico, Argentina, Bolivia, Panama, Taiwan, Japan and the Netherlands as well as a worldwide base of more than 500 customers. Pico Digital and IDC have highly complementary product portfolios, and together will provide the industry's leading solutions for data broadcasting, audio distribution, and digital cinema, as well as enjoying significantly increased scope as a video solutions provider.
“Combining forces with Pico Digital is great news for IDC's customers, as they will immediately be offered a broader range of solutions, supported by an even stronger worldwide team,” stated Doug Lowther, president and CEO of IDC. “This acquisition will also enable the acceleration of the roadmap and planned deployment of IDC's flagship LASER solution, which is part of our long-term vision.”
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IDC’s LASER Multi Program Splicer (MPS) is the industry's most cost-effective solution for performing seamless broadcast program and ad insertion on multiple channels simultaneously, according to IDC.
LASER MPS is particularly suited for regionalisation of content in digital terrestrial networks, cable networks, or satellite content distribution networks. As the ad market becomes both more lucrative and increasingly competitive, LASER empowers broadcasters to deliver a more relevant and compelling advertising solution, positioning television broadcasters for increased success.
The proposed acquisition is expected to close in June 2015, subject to obtaining the approval of IDC's shareholders.