The board of ANGA Cable exhibitor Miranda (Stand P15) this week agreed to recommend an offer by Belden to acquire the company for C$17 (€13) a share.
According to Miranda, the move is the culmination of a strategic review initiated by the board in March, charged with working out how best to ensure that any transaction would both recognize Miranda’s value and its success to date, as well as its future prospects, and position Miranda’s business effectively for continued growth. Belden was one of a number of parties that entered into discussions with Miranda and expressed an interest in acquiring the company.
Belden’s offer represents a premium of 42% to the 90-trading day volume weighted average share Price of C$11.99 as of June 4.
Miranda plans to use ANGA Cable to launch its iControl Headend video network management system.
Miranda’s iControl Headend is designed for network operation centres at cable, satellite or IPTV facilities and provides operators with end-to-end video signal path and QoE monitoring. By correlating the telemetry available to pinpoint service-impacting impairments and verifying quality with visibility throughout the signal path, iControl enables operators to identify items that require corrective action, according to Miranda.
iControl Headend is an agnostic video network management system (NMS) that works in concert with other network elements to either monitor them or collect telemetry data from them. It works with third-party devices via SNMP or as part of a comprehensive Miranda solution that includes Kaleido mulitviewers, Densité probes and NVISION routers.