Miranda Technologies, a worldwide provider of infrastructure, playout and monitoring systems for the broadcast and cable/satellite/IPTV industries, has acquired all of the outstanding shares of privately held OmniBus Systems, a pioneer of IT-based media management and delivery solutions for TV and Internet broadcasters, from Palamon Capital Partners.
The acquisition, valued at CDN$48.7 million, will be financed equally between cash on hand and an existing credit facility. OmniBus Systems, based in Loughborough, UK, had revenues of approximately CDN$24 million for the trailing last 12 months ended June 30 2010. It has a large, installed blue chip customer base, including ABC, Ascent Media, Astro, AT&T, BBC, Chellomedia, Corus, Direct TV, Discovery, E!, FOX, SkyPerfect TV, Starz and Turner.
“The addition of OmniBus, and specifically iTX, allows Miranda to uniquely offer the complete range of playout solutions, from traditional hardware to a fully software-based environment,” said Strath Goodship, president and CEO of Miranda. “We are now exceptionally positioned to help our customers transition to more efficient operations by offering the best fit of hardware and software products to suit their individual requirements.”
OmniBus Systems’ iTX is a software-based TV production and transmission solution built on standard IT hardware and advanced software technology. Broadcasters and media operators can use this single, integrated system to unify and streamline ingest, media management, workflow organization, schedule management, asset management, automation, master control and playout to TV, radio and the internet. Handling all stages of the production and delivery process under a consistent user environment, the iTX system delivers increases in efficiency, scalability and speed of response for media businesses.