Mumbai: Canada-based video streaming and networking solutions company, Haivision Systems Inc has announced a definitive agreement to acquire CineMassive Displays, LLC (CineMassive).
Haivision will indirectly acquire, through a wholly-owned subsidiary, 100 per cent of the membership interests of CineMassive on a cash-free and debt-free basis for a total purchase price of $30 million, subject to customary adjustments. The acquisition is expected to be immediately accretive.
Haivision is acquiring the Atlanta-based company to bring together real-time video network technology and mission-critical visual collaboration solutions to better serve and expand its customer base, the company said in a statement. Haivision will offer end-to-end solutions tailored for mission-critical collaboration in Global Security Operations Centers, joint and tactical operations centers, public safety operations centers, and control rooms, it added.
“Cybersecurity, network, and physical threats are today’s reality that governments and large enterprises are now addressing with global multi-disciplinary teams,” Haivision president and CEO Mirko Wicha said. “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 CineMassive co-founder & CEO David Minnix. “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.”
“Haivision and CineMassive are very complementary in the government and defense markets,’’ said Haivision’s SVP-global sales, Brian Henry. “Fortune 500 enterprises, public safety, and emergency response teams are looking towards proven defense-style approaches to situational response, and towards companies like Haivision and CineMassive which are built upon years of engagement, reputation, and trust in the most challenging markets.”
Haivision also said that the CineMassive Atlanta operations will become the company's showcase visualization collaboration center with all employees and management remaining post transaction
