| SCHAUMBURG,
Ill and SUNNYVALE CA. – 17 May 2007 – Motorola,
Inc. and Modulus Video, Inc., a privately-held company,
announced the signing of a definitive merger agreement,
under which Motorola will acquire Modulus Video. The
terms of the transaction were not disclosed. |
Modulus Video is a leader and innovator in MPEG-4 Advanced
Video Coding (AVC) compression systems designed for
delivery of high value video content in the IPTV, cable,
broadcast and satellite marketplace. Modulus Video has
partnered with Motorola for over two years bringing
high-quality encoding solutions to key customers around
the world.
This
acquisition will complement Motorola’s recent
acquisitions of Broadbus, Kreatel, Tut Systems and
Netopia in the creation and delivery of an integrated,
end-to-end video delivery system for multiple network
architectures.
Upon
completion of the transaction, Modulus Video will
become a wholly owned subsidiary of Motorola and will
be integrated into the Motorola Home and Networks
Mobility business. Motorola intends to maintain Modulus
Video operations in Sunnyvale, California.
The
transaction is subject to customary closing conditions,
including regulatory approvals and the approval of
Modulus Video stockholders, and is expected to be
completed in the second or third quarter of 2007.
About
Modulus Video
Since its founding in 2002, Modulus Video has been
the only company to focus 100 percent of its efforts
on perfecting the use of the MPEG-4 AVC video compression
standard. As a result, Modulus Video’s powerful
MPEG-4 AVC encoders are now a critical component behind
today’s most compelling IPTV deployments around
the world, providing the most efficient use of available
bandwidth and delivering outstanding standard definition
and high definition television services over new and
existing broadband infrastructure. Its products meet
the needs of the broadcast, narrowcast and video-on-demand
markets.
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23/05/2007
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Motorola/Modulus
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