12.16.2008 11:14 AM
Miranda to acquire NVISION
Miranda Technologies is acquiring router and master control switcher manufacturer NVISION.
The deal is valued at $40 million, at least $16 million of which Miranda will pay with cash and the rest to be sourced from a U.S. credit facility. The deal is expected to close before Dec. 31. For the 12 months ending Sept. 30, NVISION had revenues of about $34 million.
NVISION’s product line is a “natural fit” with Miranda’s branding, interfacing and multiviewer product lines, said Miranda CEO and President Strath Goodship. During a conference call with financial analysts Dec. 11, Goodship explained that NVISION’s master control switchers, which have found a home in manual and semiautomatic applications at call letter TV stations, complement the larger, fully automated master control products Miranda acquired in 2001 as part of its acquisition of Oxtel.
In recent years, Miranda and NVISION often have worked on the same projects, such as a major infrastructure installation for the MLB in which NVISION’s routers were tightly integrated with Miranda’s multiviewers, Goodship said. This close relationship and NVISION’s reputation for innovation in router design, built on accomplishments such as early support for 3Gb/s, position Miranda for growth, he added.
The acquisition also positions Miranda to get involved with HD infrastructure buildouts earlier on in the process, because routing switchers are central to the design of such projects and are one of the first items to be considered, Goodship said.
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