Ericsson aims to shore up its multiscreen video platform and add some tier 1 cable operators to its customer mix as it puts up $125 million for Envivio, the multiscreen video processing company that went public in April 2012.
Ericsson said it will pay $4.10 per share in cash for Envivio, whose shares closed at $1.90 (down 4 cents, or 2.06%) on Wednesday.
Envivio, they noted, has an installed base of more than 400 TV service provider and content owner customers, including tier 1s that include Comcast, Cox Communications, Liberty Global, Sky, Telstra and Time Warner Cable. Envivio’s cloud-based video processing platform runs on Intel-based appliances or IT blade servers.
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