- 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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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
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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 |