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Viaccess to acquire Orca Interactive
Content protection firm and France Telecom subsidiary Viaccess is to acquire IPTV middleware specialist Orca Interactive for approximately €14m. The acquisition will be subject to shareholder approval, however, Viaccess will be paying significantly more than Orca's current market value, so a rejection is unlikely. On current share prices, Orca is valued at €10.7m, with the average market capitalization of the company over the last four months at roughly €8m. The agreed price therefore represents as much as an 80 per cent premium on Orca's previously perceived market value. The acquisition will enable Viaccess to offer a near-end-to-end solution, comprising content management, conditional access and middleware, to prospective and existing clients.
Our take...
The acquisition of Orca comes as little surprise: the company has suffered in the European market from intense competition, and also to some extent as a simple consequence of geography. Orca, based in Israel, lost a number of Western European clients, like Magnet Entertainment in Ireland and iVisjon in Norway, to local vendors, who were, according to the companies in question, able to provide more immediate customer support. Consequently, a European buyer, with a strong existing market presence, makes most sense from a commercial standpoint.
The deal also marks yet another step in the consolidation trend exhibited by the TV technology market over the course of the last few years. Increasingly, technology firms are being forced to offer end-to-end solutions to demanding clients. The presence of companies like Microsoft, the Kudelski Group and NDS - firms all able to supply multiple components of pay-TV systems, has put pressure on specialists like Viaccess to adapt and diversify their portfolios. Viaccess, like a number of the long-tail of firms which occupy the bottom third of the pay-TV systems market, relies on a few key clients, the loss of any of which would have a major impact on the company. Viaccess is clearly worried that vendors able to offer end-to-end solutions could seriously damage its business, and its acquisition of Orca, it is hoping, will go a long way to forestalling this.
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Analyst, market intelligence & notices
Reports
Articles
(8) 1-8 showing
Free-to-air mobile TV market grows
More than 15m people in Asia subscribe to free-to-air mobile TV services
published:
01-Nov-07
territories:
Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Japan, Korea. Rep [S], Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland, UK, USA - World
Ronan de Renesse
DTT take-up accelerates in Europe
Continent-wide penetration has reached 12 per cent, with UK and Finland leading the way and laggardly France and Spain now catching up
published:
15-May-07
territories:
Australia, Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Georgia, Hungary, Italy, Japan, Luxembourg, Norway, Portugal, Spain, Sweden, Switzerland, UK, Greece, Ireland, Poland, Slovakia, Turkey - Europe
Tim Westcott
Broadcasting on the Internet
A listing of the online video sites operated by broadcasters or which are displaying broadcast content.
published:
15-May-07
territories:
Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Spain, Sweden, UK, USA - Europe, Nordic Region, North America
Tim Westcott
On-demand TV services in Europe
The rapid surge of IPTV is driving the growth in pay-per-view services
published:
19-Feb-07
territories:
Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Ireland, Israel, Italy, Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland, UK - Europe, Western Europe
Lingjie Wang
Rise of high definition TV channels
At the end of 2006 there were 106 high definition television channels worldwide. We forecast there will be 250 by 2010, 120 of them in Europe
published:
25-Jan-07
territories:
UK, USA, Australia, China, Germany, Italy, Korea. Rep [S], Poland, Sweden, France - Europe, Nordic Region, North America
Vincent Létang
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