MONTREAL —Video streaming technology provider Haivision Systems has inked a definitive agreement to acquire CineMassive Displays, LLC. for about $30 million.
Based in Atlanta, Georgia, CineMassive has 62 employees and revenues of about $20 million in 2020. It provides visual collaboration technology including CineNet, a solution that aggregates content from multiple real-time sources for display and interaction within control room operations centers.
Akamai, McKesson, Cox Communications, CBS, Stanford University, US police/emergency response centers, and military tactical operations centers use its technologies.
“Cybersecurity, network, and physical threats are today’s reality that governments and large enterprises are now addressing with global multi-disciplinary teams,” said Mirko Wicha, Haivision president and CEO. “With the combination of Haivision and CineMassive technologies, customers can create a secure, global common operating picture from a single vendor leveraging both cloud connectivity and intelligent edge capabilities.”
“We have worked with Haivision for over ten years and our companies share many common themes,” said David Minnix, co-founder and CEO of CineMassive. “Our approach to real-time performance, security, and IT compliance in solving mission-critical challenges of the highest order is echoed by Haivision and reflected in the longstanding relationships that we both have with our customers.”
The definitive purchase agreement provides that Haivision will indirectly acquire, through a wholly-owned subsidiary, 100% of the membership interests of CineMassive on a cash-free and debt-free basis for a total purchase price of $30 million, Haivision reported.
Haivision noted that the deal will help it expand its business within defense, government, and enterprise customers and strengthen its businesses in supplying technologies for secure live video networks by including real-time data visualization.
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