Nevion and T-VIPS, both Norway-based suppliers of IP-based video transport solutions for broadcasters, announced that they will merge operations and product lines, pending regulatory and shareholder approvals. The merger is structured as a cash and shares transaction, although no exact financial details of the deal were revealed.
The new management team will now include Geir Bryn-Jensen, former CEO of Nevion, who now will lead the joint company. He is joined by senior managers from both companies’ current teams: Eugene Keane, Nils Fredriksen, Petter Kvaal Djupvik, Johnny Dolvik, Janne T. Morstøl and Arnhild Schia.
Johnny Dolvik, former CEO of T-VIPS, said the combined company will have more resources and better reach into new market,s while also allowing both product development teams to “realize our shared vision to shape the future of media transport right across the media value chain.”
Geir Bryn-Jensen, CEO of Nevion, said, “With the explosion in global media consumption and the growing need for broadcasters and service providers to deliver media content quickly on multiple platforms, now is the right time to profit from the rapid shift towards media networking over IP.”
Nevion’s modular solutions encompass IP and optical transport, state-of-the-art compression and routing for any video format over any network infrastructure — within buildings or across continents.
Nevion is headquartered in Sandefjord, Norway, with U.S. headquarters in Oxnard, CA. Nevion also maintains offices in Oslo, Chicago, London, Dubai, Beijing and Singapore.
T-VIPS is located in Oslo and provides professional video transport solutions that include such TV services as 3D, HDTV, live events and local content to mobile devices.