Alcatel Extends End-to-End IP TV2/07/2003 4:35 AM Eastern
Alcatel is buying up the remaining portion of iMagicTV it does not already
own in a deal valued at $30 million.
iMagicTV provides software and other products that allow telephone companies
to offer TV and multimedia services over broadband networks, including
pay-per-view, digital cable and video-on-demand.
Alcatel already owns 16 percent of iMagicTV, and it plans to purchase the
remaining shares at $1.20 apiece.
"The acquisition of iMagicTV is an exciting step as we grow our ability to
work alongside our customers to grow their service revenues and profitability,"
said Alan Mottram, president of Alcatel's fixed-solutions activity.
Most large telcos continue to shun Internet-protocol TV, but some smaller
telcos and rural carriers are delving into the market. iMagicTV's customers
include Kingston Communications plc, SaskTel, TELUS and TF1.
The parties expect to close the deal in the second quarter of