Alcatel acquires software vendor iMagicTV
May 5, 2003
Alcatel, a provider of networking and video streaming technology, has acquired the assets of Ottawa, Canada-based iMagicTV, a software vendor whose products enable service providers to create, deliver and manage digital television and rich media services over broadband networks.
Alcatel already owned about 15 percent of iMagicTV and has now purchased the remaining 20,826,362 common shares. Alcatel now holds 100 percent of iMagicTV’s capital.
Under terms of the acquisition, iMagicTV joins Alcatel Canada and will now operate under the Alcatel name and its Media Manager product will be marketed under the name Alcatel 5950 Media Manager. The iMagicTV portfolio will be marketed via a worldwide distribution channel alongside Alcatel’s broadband portfolio for IP video solutions.
Through this acquisition, the company would be able to increase market share in broadband access solutions while leveraging a turnkey solution for triple TV, Internet and telephone broadband services.
IMagicTV’s product line is targeted at Internet Protocol (IP)-based service providers towards delivering profitable media services. The company also provides back-end service provisioning capabilities.
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