Norwegian video transport suppliers Nevion and T-VIPS are to merge.
No financial details have been released for the deal that has been structured as a cash and shares transaction.
The new management structure sees existing Nevion head, Geir Bryn-Jensen, appointed as CEO of the combined company. He is joined by senior managers from both companies’ current teams – including Eugene Keane, Nils Fredriksen, Petter Kvaal Djupvik, Johnny Dolvik, Janne Morstøl and Arnhild Schia.
Johnny Dolvik, CEO of T-VIPS, said: “Joining forces with Nevion will give us critical mass, increased market presence and enables us to realise our shared vision to shape the future of media transport right across the media value chain. It makes a real statement to the market. We have a complementary culture of innovation and a vision that we believe will resonate and bring benefits to our customers and partners.”
Geir Bryn-Jensen, CEO of Nevion, added: “With the explosion in global media consumption and the growing need for broadcasters and service providers to deliver media content quickly on multiple platforms, the timing of our merger makes perfect sense. Now is the right time to profit from the rapid shift towards media networking over IP, deliver the new generation of optical transport and enable the emerging media delivery business models.”
Nevion’s IP and optical transport state-of-the-art compression and routing has been deployed by broadcasters, service providers and government agencies worldwide.
T-VIPS is best known for its JPEG2000 video gateway products for IP video transport and digital terrestrial television.