—SintecMedia has acquired Pilat Media. Both companies are providers of media business management software. The combination of the two creates a broad portfolio of business management platforms targeting all types of media businesses. Pilat Media’s flagship product, Integrated Broadcast Management System, or IBMS, its MediaPro advertising sales systems, and the OTTilus over-the-top TV service technology join SintecMedia's line of OnAir SIMS, Nestor, and Medea products with increased R&D investment for the benefit of all customers.
According to documents published in The Wall Street Journal
, Pilat shareholders registered a as of 6.00 p.m. (London) on April 2, 2014, shall receive 95 pence (US$1.60) in cash for per share, save where they have validly requested to receive such cash payment in NIS.
Pilat says outstanding shares total 62,533,506. SintecMedia already was a 23 percent owner of the company. Full-year revenues for 2012, the last year reported, came in at a record £23.5 million (US$39.02 million). Profit that year was £1.47 million (US$2.44 million), up from a net loss of £860,000 (US$1.43 million) in 2011. Cash and equivalents at the end of 2012 totaled £14.9 million (US$ 24.7 million). R&D for 2012 was £3.7 (US$6.14 million).
The acquisition positions SintecMedia as the for delivering next-generation business management technology tailored to the needs of commercial and public broadcast networks, cable networks, station groups, and multichannel platform operators globally. The company ’s applications portfolio includes multiplatform programming, sales, traffic, media, rights, revenue management, business intelligence, workflow management, and OTT service management.
Moving forward, SintecMedia will focus on harmonizing the product portfolio, leveraging best-of-breed modules and moving toward advanced technology to secure customer investments. Customers are expected to benefit from a broader professional services team with a greater range of industry expertise, resources available, and project delivery experience.