Elettronica
EVS Broadcast Equipment acquires 100% of SVS GmbH
EVS Broadcast Equipment, the leading provider of live video production systems, today announced that it has acquired the remaining 75% it did not own in Scalable Video System GmbH (SVS).
Since May 2013, EVS owns 25% of SVS, an R&D company based in Weiterstadt (Germany) developing IT-based vision mixers. Under the agreement recently signed, EVS has acquired the remaining 75% it did not own for an amount of EUR 1.0 million paid in cash, and a possible future earn out based on the performance over the 2015-2020 period. The transaction is subject to post-completion adjustments.
In addition, EVS also acquires the remaining 5% it did not own in Dyvi Live SA (company based in Brussels and distributing the products of SVS under the name DYVI) for a global amount of EUR 0.1 million.
These moves will enable EVS to manage that promising product line in a more efficient and holistic way.
Copyright GlobeNewswire
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Source: %s via Globenewswire