U.K.'s Tandberg to Acquire VOD Firm N2 Broadband for $110 Million

Authored by Mark Hefflinger on December 17, 2004 - 9:04am.

Southampton, England -- Tandberg Television, a U.K.-based provider of professional video compression and TV delivery systems, announced on Friday that it has agreed to acquire Atlanta-based N2 Broadband, a provider of video-on-demand (VOD) delivery technology. Tandberg will tender between $110 million and $130 million in cash and shares for N2 Broadband in a deal that is expected to close in the first quarter of 2005. Tandberg is the primary supplier of video compression technology for European cable TV operators, while N2 Broadband's VOD systems are employed in the U.S. by cable TV providers and producers including Comcast, Charter, Cox, Adelphia, Time Warner, HBO and Starz-Encore. The deal is expected to help expand Tandberg's video compression technologies into the North American market while adding N2 Broadband's video-on-demand systems as an option for Tandberg's European and Asian cable TV and IPTV customers.
http://www.tandbergtv.com/newsview.asp?n=287
http://www.n2broadband.com