Tandberg Swims with SkyStream2/08/2006 5:24 AM Eastern
Tandberg Television said Wednesday that it has agreed to acquire SkyStream Networks Inc.
Tandberg focuses on professional video compression, while SkyStream provides Internet-protocol video-delivery solutions.
The $80 million transaction is expected to close in April, subject to a number of standard conditions.
“The sands are shifting in the digital-media market, and there is an inevitable level of industry consolidation taking place,” TandbergCEO Eric Cooney said in a prepared statement. “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.”