SES Platform Services GmbH, a wholly owned subsidiary of SES S.A. has agreed to merge RR Media’s operations with those of SES PS.
SES will pay a consideration of $3.291 per share to acquire a 100% interest in RR Media. The consideration corresponds to an Enterprise Value of $242 million, which will be funded from the group’s existing financial resources. The acquisition is subject to regulatory approvals, which are expected to be completed in the second or third quarter of 2016.
“RR Media has successfully developed the capability to manage and deliver premium content effectively, helping its customers to reach a global audience over multiple satellite, cable TV, IPTV, online and mobile platforms,? commented Wilfried Urner, Chief Executive Officer of SES Platform Services.
“SES, as the largest global platform for video in terms of reach and channels, adds global scale and considerable insights from the successful development of SES PS in Europe.”
Ferdinand Kayser, chairman of SES Platform Services, added: “This is an exciting acquisition and an important milestone in the execution of SES’s differentiated strategy focused on Globalisation, Verticalisation and Dematuring. The addition of RR Media further accelerates the globalisation of SES’s services businesses, establishing a world-leading next generation video and media service provider.”
Avi Cohen, CEO of RR Media said: “SES Platform Services is an important industry player with the capabilities to service strong upper tier clients. With the combined infrastructure and industry expertise, the integrated company will have the capability to deliver innovative solutions to top tier clients, emerging markets and global customers. RR Media’s growth strategy has focused on top tier client and increasing scale. This deal achieves both of these strategic goals.”
