Evertz buys 3.1% stake in EVS

Evertz directly competes with EVS in the live production replay market.
EVS makes the industry’s leading range of live production servers
EVS makes the industry’s leading range of live production servers

Share

Evertz Technologies has acquired a 3.12% stake in live production replay specialist EVS. The sale was revealed in an announcement made by EVS as part of a transparency notification required by securities regulators. 

EVS said in a statement that it was notified on October 22 that Evertz has acquired 424,936 EVS shares most likely in the open-market. The share purchase crosses the  3% equity stake threshold which automatically triggers a transparency notification requirement.

Canadian manufacturer Evertz is a global leader in the broadcast solutions segment and directly competes with EVS in the live production replay market. Its Dreamcatcher replay system product competes with EVS video replay production servers and solutions which remain the dominant product in the live sports replay market, thanks to its loyal following among live production specialists, and decades of customer relationships.

Industry analyst Devoncroft Partners commented on the deal: "The open-market move by Evertz is unusual for a company that is typically focused on developing its own product portfolio, with the occasional bolt-on acquisition. Evertz generates a lot of cash and pays a healthy dividend to its shareholders. Despite its strong market position, 2018 has been a difficult trading year for EVS – highly unusual for an even-year filled with big events including the FIFA World Cup. The company experienced it’s first even-year decline in almost two decades when it issued its earnings for Q2 and 1H 2018. Consequently, EVS has seen a sharp drop in its share price, which is down 45.2% since the beginning of 2018, and down 51.4% over the past year."

Most Popular

Editor's Choice

Interview with Red Bee Media CEO Steve Nylund
Red Bee Media CEO Steve Nylund speaks to Digital Studio ME about the need for managed services and shared infrastructure, the state of the broadcast industry and the major trends he noticed at IBC 2018.
Interview with Pyramedia CEO Nashwa Al Ruwaini
Pyramedia has contributed immensely to putting Abu Dhabi at the forefront as a potential vocation for regional film and TV production talent. CEO Nashwa Al Ruwaini talks about her company’s evolution, shifting production trends, and being a woman leader in the industry.
Raising the Bar: Interview with Michael Garin, Image Nation CEO
Michael Garin, CEO of Image Nation on how everything his company does is with the ultimate goal of helping to raise the quality of regional productions

Don't Miss a Story