Scopus Video Networks has made a non-binding agreement to purchase digital video supplier Optibase.
“The acquisition of the digital video and streaming business of Optibase is a positive step for Scopus,” said Dr Yaron Simler, CEO, Scopus. “In addition to our current portfolio, Optibase’s products extend the breadth of our offering to our customers, opening up new markets for Scopus. It should enable us to become a more prominent player in the digital video networking market.”
The deal involves 2.6 million ordinary Scopus shares and an earnout of a further 0.9 additional shares. Following the transaction Optibase will increase its holding in Scopus from the present 36% to 46% and finally 49% once the earnout has been completed.
In addition to a period of due diligence a special majority of Scopus shareholders will be required to approve the deal because the transaction involves a principal shareholder.
