Latin America. Haivision announced an agreement to acquire Aviwest. With the addition of Aviwest, Haivision will have a comprehensive portfolio of video contribution solutions to address the growing demand for high-quality, live video content in broadcast, sports, and live event production.
This major acquisition by Haivision will combine two low-latency video contribution companies. Haivision is a leading provider of low-latency "wired" video transmission networks; Aviwest is a leading provider of low-latency wireless video streaming networks. The acquisition will bring mobile networks (5G/4G cellular) and proprietary network linking capabilities to Haivision's portfolio of solutions. In combination with Aviwest, Haivision will be an unmatched provider of low-latency streaming technology solutions for any live event.
Founded in 2008, Aviwest is a global provider of IP-based mobile video contribution systems and a pioneer in live video streaming over cellular networks. The company has a track record of innovation that includes many world firsts: portable cellular video streaming, live video streaming over a 4G network implementing QoS, and live 4K video streaming over a 5G network. Aviwest also received two EmmyÒ awards for its SST network technology for reliable video streaming over united networks.
Internationally, hundreds of broadcasters, television stations and production companies rely on Aviwest's technology in their daily coverage of sporting events and other live events. In addition, Aviwest solutions are widely used in support of major international sporting events. Headquartered in Rennes (Saint-Grégoire), France, Aviwest has more than 70 employees with field operations worldwide.
Transaction Details
Haivision will acquire 100% of Aviwest's shares without cash or debt for a cash consideration of €20.5 million (approximately Can$29.6 million), subject to customary adjustments. Aviwest had revenues of approximately €10.5 million (approximately C$15.1 million) in 2021.
Closing depends on compliance with or waiver of all closing conditions and receipt of certain approvals, including obtaining the advisory opinion of the Aviwest works council (employee representatives) as provided by French law, all of which are expected to be received within 30 days. The acquisition is expected to be cumulative by the end of Haivision's second quarter.
