Media Center: Press Release
NDS Announces Acquisition of CastUp Inc., a Leading Provider of Solutions to Enable Video over Internet
Highlights:
- CastUp brings to NDS proven know-how and experience
in the new and emerging world of video services over broadband networks
- Via new acquisition by NDS, CastUp’s
technology and expertise will further accelerate introduction
of new solutions for the converging broadcast/broadband market
- Purchase price of about $11.3 million in cash
plus additional payments to employees and senior management
LONDON, UK – 7 August 2007 – NDS
Group Plc, the leading provider of technology solutions for digital
pay-TV, today announced the acquisition of 100% of the share
capital of CastUp Inc, a leader in solutions for management and
delivery of video over the Internet, for purchase price of $11.3
million in cash plus additional payments to employees and senior
management. Completion is expected to occur during the first
financial quarter of 2008.
CastUP Inc., through its wholly owned subsidiary in Israel,
provides a robust end to end solution for acquisition, processing,
distributing, serving and monetizing of rich media content over
IP and, in particular, video and audio over the Internet. Customers
include major TV and media companies in Israel as well as the
Israeli subsidiaries of large corporations like HP, Amdocs, MTV
and Blockbuster.
CastUp, a profitable and fast growing company, will provide
NDS with substantial know-how and experience in online video
delivery. This acquisition affords NDS access to technologies
which will help its current pay TV customers expand their broadband
video distribution services as well as attracting new potential
customers. CastUp’s proven rich media technology will also
help NDS to develop new enhanced services and applications for
broadband enabled set-top boxes (hybrid STBs). CastUp will continue
to operate as a separate unit within NDS under the leadership
of the current management team.
Dr Abe Peled, NDS Chairman and CEO said: "We are very excited
about the possibilities for new and comprehensive solutions for
the delivery, management, and control of online media assets.
We believe that NDS’ market-leading experience in securely
delivering digital content, and our global presence will combine
with CastUp’s proven technology to allow us to continue
to enhance the businesses of our media and entertainment customers.” Through
this important acquisition, NDS can meet the requirements of
broadcasters for control, management, distribution, reporting,
and monetization of their digital assets any time, anywhere and
on any device. Dr Peled continued: “We are of course committed
to serving all of CastUp’s current customers after the
transaction closes, as well as helping the CastUp team expand
their market penetration worldwide.”
Avi Ostfeld, CEO of CastUp, commented: ”This is a big
win for our customers and employees, and for companies requiring
rich media management, publishing, and robust delivery. By joining
forces with NDS, our customers and employees will have access
to one of the most accomplished and innovative high-tech companies
and a leader in digital entertainment technology. CastUp's success
was made possible by our extremely talented employees, whose
expertise and teamwork allowed us to achieve a leading position
in the market.”
About NDS
NDS Group plc (NASDAQ: NNDS), a majority owned subsidiary of
News Corporation, supplies open end-to-end digital technology
and services to digital pay-television platform operators and
content providers. See www.nds.com for
more information about NDS.
About CastUp Inc.
CastUp Inc. is a leader in providing comprehensive solutions
for rich media production, publishing and distribution in today's
most popular formats. CastUp's wide selection of rich media management
tools allows content owners to control all aspects of their media
in a robust, yet easy to use application. CastUp powers the online
media experience for many of Israel’s best-known brands
including Keshet, Reshet, Channel 10, Sports Channel, IBA and
many more. For more information, visit www.castup.net.
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Cautionary Statement Concerning Forward-looking Statements
This document may contain certain “forward-looking
statements” within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements are based on management’s
views and assumptions regarding future events and business performance
as of the time the statements are made. Actual results may differ
materially from these expectations due to changes in global economic,
business, competitive market, regulatory and other factors. More
detailed information about these and other factors that could affect
future results is contained in our filings with the US Securities
and Exchange Commission. Any “forward-looking statements” included
in this document are made only as of the date of this document
and we do not have any obligation, nor do we undertake, to publicly
update any “forward-looking statements” to reflect
subsequent events or circumstances, except as required by law.
For further information:
| NDS |
|
| Cynthia Ritchie |
T: +44 (0)20 8476 8378 |
| Director, Corporate Communications |
critchie@nds.com |
| |
|
| Breakaway Communications for NDS |
|
| Kelly Fitzgerald |
T: +1 212 616 6006 |
| Managing Partner |
kfitz@breakawaycom.com |