SES Announces Successful Completion of Merger of RR Media with SES Platform Services
06 7월 2016 - 4:12PM
Business Wire
Merged company will enhance and scale up SES’s
existing video capabilities to deliver and monetise video services
across linear and non-linear platforms
SES S.A. (Euronext Paris:SESG) (LuxX:SESG) announced today the
successful completion of the merger of RR Media (NASDAQ: RRM), a
leading provider of global digital media services, with its
wholly-owned subsidiary, SES Platform Services.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20160706005500/en/
SES Announces Successful Completion of
Merger of RR Media with SES Platform Services (Photo: Business
Wire)
SES has acquired RR Media for USD 13.291 per share, leading to
an enterprise value of USD 242.2 million. The transaction was
completed following satisfaction of the closing conditions and
receipt of the necessary regulatory approvals.
Trading in RR Media's ordinary shares on the Nasdaq Stock
Exchange has been halted as of start of trading on Wednesday, 6
July 2016 and will be suspended effective as of the close of
trading on that same day.
The merged company, which will operate as MX1, will enhance and
scale up SES’s existing video capabilities to deliver and monetise
video services across linear and non-linear platforms. MX1 will
leverage the global networks and cloud technologies of both
companies to offer a full suite of innovative digital video and
media end-to-end solutions for the world’s leading media
businesses, which will further strengthen SES’s leadership in the
global video market.
MX1 will work with leading media businesses to transform content
into the ultimate viewer experience for a global audience and
provide video expertise and capabilities such as highly-optimised
content management and distribution services.
Together, MX1 will distribute more than 1,000 TV channels,
manage the playout of 440 channels and deliver syndicated content
to more than 120 leading subscription VOD platforms. The new
company has 16 offices worldwide and operates six state-of-the-art
media centres, enabling customers to reach billions of people
around the world.
MX1 will be led by the newly-named CEO Avi Cohen, who was
previously the CEO of RR Media. Together with HD PLUS, another SES
subsidiary responsible for the leading HD platform in Germany, MX1
will be part of the SES Media Solutions led by Wilfried Urner.
“We are confident that the new MX1 will leverage the expertise
and success they have garnered in their respective key markets to
expand their product portfolio. The addition of MX1 to the SES
group is a first step in globalising SES’s video services business
and in accelerating the completion of our goal to become one of the
leading next generation media service providers,” said Urner, CEO
of SES Media Solutions.
More information on MX1 is available at www.MX1.com.
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About SES
SES (Euronext Paris:SESG) (LuxX:SESG) is the world-leading
satellite operator with a fleet of more than 50 geostationary
satellites. The company provides satellite communications services
to broadcasters, content and internet service providers, mobile and
fixed network operators and business and governmental organisations
worldwide.
SES stands for long-lasting business relationships, high-quality
service and excellence in the satellite industry. The culturally
diverse regional teams of SES are located around the globe and work
closely with customers to meet their specific satellite bandwidth
and service requirements.
SES holds a participation in O3b Networks, a next generation
satellite network combining the reach of satellite with the speed
of fibre.
Further information available at: www.ses.com.
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