Broadcast infrastructure provider Miranda Technologies has acquired all of the outstanding shares of privately held automation specialist OmniBus Systems, from private equity firm Palamon Capital Partners.
The all cash purchase, valued at CDN$48.7m (37.15m), will be financed equally between cash and an existing credit facility. OmniBus Systems, based in the UK, had revenues of approximately CDN$24m for the last 12 months ended June 30. Its customer base includes ABC, Ascent Media, Astro, AT&T, BBC, Chellomedia, Corus, Direct TV, Discovery, E!, FOX, SkyPerfect TV, Starz, and Turner. â¨
ÂWith its compelling IT-based playout and automation solution, called iTX, OmniBus is leading broadcasters away from multi-vendor, hardware-based systems, towards a single fully integrated, software platform,Â said Strath Goodship, MirandaÂs president and CEO. ÂThe addition of OmniBus, and specifically iTX, allows Miranda to uniquely offer the complete range of playout solutions, from traditional hardware to a fully software-based environment. We are now exceptionally positioned to help our customers transition to more efficient operations, by offering the best fit of hardware and software products to suit their individual requirements.Â