From its UK regional HQ, on February 8, video compression specialist, TANDBERG Television (Oslo:TAT.OL) said it was buying SkyStream, the Sunnyvale, CA based leader in IP video delivery solutions for US$80 million. Skystream is already known in Asia Pacific for its PRC and Korean operations. Both companies already share a number of common customers.
TANDBERG's President, Eric Cooney on the deal says that the sands are shifting in the digital media market and there is an inevitable level of industry consolidation taking place. In a marketplace with a number of acquisition opportunities to pursue, we chose to acquire SkyStream because of the company’s best-in-class technologies and its strong culture of building revenue and profitable growth.
SkyStream's customer list includes Reuters, GlobeCast (a division of France Telecom), EchoStar Communications Corporation, Comcast, BT Broadcast Services, Belgacom, Clear Channel, Convergent Media, Eutelsat, Gilat, New Skies Satellites, ViaSat, Loral Skynet, EMS, CCTV and Telecom Italia.