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Deals
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| Network Electronics Acquires Video Products Group |
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12.20.2007
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Network Electronics, a Norway-based provider of optical-based video transport technology for broadcasters and the telecommunications industry, has announced that it is purchasing Video Products Group (VPG) of Oxnard, California. Financial terms of the deal were not disclosed; the acquisition is expected to close in January 2008.
VPG provides professional video/audio transport systems for local and wide area networks worldwide. The company, which has 60 employees, counts NASA, British Telecom and NBC among its customers. Network Electronics said it expects the merger to help enhance its presence in the worldwide professional video and audio signal transport markets.
"The video market is presently undergoing rapid consolidation and convergence, and it is critically important that companies can choose video transport solutions that bridge the telco and broadcast worlds and maximize future flexibility", said Oddbjørn Bergem, CEO of Network Electronics. "By bringing together VPG's technology and video transport expertise with Network Electronics proven solutions, we are able to create a best-in-class offering for video transport solutions. Moreover, VPG's strong telco customer base, combined with Network Electronics extensive global market presence, adds significant momentum to Network Electronics with increased critical mass and greater opportunities for future growth".
Network Electronics officials predict that the combined product portfolio will provide a single source of complete video transport systems for both telcos and broadcasters, allowing customers to build intra-facility networks and long distance contribution, production and content distribution networks over IP, SDH/SONET and CWDM and DWDM.
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