Merger signals significant industry consolidation for radio,
datacasting, and digital signage solutions
WINNIPEG, Feb. 5, 2014 /CNW/ - Novra Technologies, Inc.
(TSX Venture Exchange: NVI.V), a leading Global provider of premium
products and solutions to the datacasting, digital signage and
IP-TV markets, today announced that it will acquire Wegener
Corporation of Johns Creek, Georgia and Westport Research Associates, Inc.
of Raytown, Missouri.
Novra Technologies has signed term sheets with Wegener
Corporation and Westport Research Associates for Novra to acquire
these two companies. The transaction is subject to Novra's due
diligence and the approval of Wegener Corporation shareholders.
"The product portfolio of the combined companies will provide a
powerful suite of capabilities for large-scale networks in radio
broadcasting, business music, broadcast video, digital signage and
IP-TV," stated Harris Liontas,
President and CEO of Novra Technologies, Inc. "Wegener Corporation
and Westport Research Associates, Inc. are not just simple
acquisitions but a merger allowing for the creation of a
solutions-based provider that will offer clients a broader scope of
services and deeper access to industry expertise.
"Representing the first step in Novra Technologies' strategic
vision to combine companies with strong product line, broad install
base and operational synergies, these acquisitions are expected to
be completed in the first or second quarter of 2014."
Combined, the three companies have deployed over 450,000 devices
in more than 50 countries across 6 continents providing content to
hundreds of millions of consumers. The opportunity to integrate
industry-leading software and hardware, both at the entry and
enterprise level, will result in value-added enhancements to
existing and future clients.
"This acquisition represents an exciting improvement for Wegener
Corporation, its shareholders, and its customers. There are product
synergies with very little overlap," stated Troy Woodbury, President and CEO of Wegener
Corporation. "Novra Technologies' worldwide distribution channels
strengthen Wegener Corporation's ability to leverage our extensive
installed base of digital signage, broadcast radio, and private
video networks to develop a truly global presence."
"Novra's world-wide market presence and
distribution channels expand the reach of Westport Research
Associates' industry leading products beyond North America," stated Don Cartner, President and CEO of Westport Research Associates. "We have a
significant North American presence in the business music, weather
data distribution and broadcast radio industries. This acquisition
allows Westport Research Associates to address the large
international markets for these products."
About Westport Research Associates, Inc.
www2.westportresearch.com
Westport Research is privately held and provides custom and
innovative solutions to move and manage media assets for background
music, digital signage, weather, broadcast radio, and movie
theaters.
About Wegener
www.wegener.com
WEGENER® (Wegener Communications, Inc.), a wholly-owned
subsidiary of Wegener Corporation (OTC Pink: WGNR), is an
international provider of digital video and audio solutions for
broadcast television, radio, telco, private and cable networks.
With over 30 years experience in optimizing point-to-multipoint
multimedia distribution over satellite, fiber, and IP networks,
WEGENER offers a comprehensive product line that handles the
scheduling, management and delivery of media rich content to
multiple devices, including video screens, computers and audio
devices. WEGENER focuses on long- and short-term strategies
for bandwidth savings, dynamic advertising, live events and
affiliate management.
WEGENER's product line includes: iPump® media servers for
file-based and live broadcasts; COMPEL® Network Control and COMPEL®
Conditional Access for dynamic command, monitoring and addressing
of multi-site video, audio, and data networks; and the Unity®
satellite media receivers for live radio and video
broadcasts. Applications served include: digital
signage, linear and file-based TV distribution, linear and
file-based radio distribution, Nielsen rating information,
broadcast news distribution, business music distribution, corporate
communications, video and audio simulcasts.
About Novra Technologies Inc.
www.novra.com
Novra Technologies offers premium products and solutions to the
datacasting and digital signage markets. Novra specializes in
the transmission and reception of IP traffic over satellite, cable
and terrestrial communication links. Products offered include
broadband receivers for DVB-S, DVB-S2, DVB-C, and ATSC systems.
Novra's IPE encapsulator products can be used in both DVB and ATSC
MPEG2 systems for datacasting as well as broadband access
applications. The NovraLink digital signage solution integrates
Novra's technologies into a comprehensive multimedia management and
distribution system. .
Neither the TSC Venture Exchange nor its Regulatory Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release may contain forward-looking statements.
These statements are based on current expectations and assumptions
that are subject to risks and uncertainties. Actual results could
differ materially from any future results implied by such
forward-looking statements because of factors discussed in the
management discussion and analysis section of our interim and most
recent annual financial statement or other reports and filings with
the TSX Venture Exchange and applicable Canadian securities
regulations. We do not assume any obligation to update any
forward-looking statements.
SOURCE Novra Technologies Inc.