The subsidiary of satellite operator SES will pay a consideration of US$13.291 per share to acquire the 100% interest in RR Media, and will merge the company’s operations into SES Platform Services.
SES said that after the deal closes, the two companies will be combined to create a new, stand-alone media services provider, offering “full continuity and enhanced service” to their respective customers.
“This is an exciting acquisition and an important milestone in the execution of SES’s differentiated strategy focused on globalisation, verticalisation and dematuring. The addition of RR Media further accelerates the globalisation of SES’s services businesses, establishing a world-leading next generation video and media service provider,” said SES Platform Services chairman, Ferdinand Kayser.
Avi Cohen, CEO of RR Media said: “With the combined infrastructure and industry expertise, the integrated company will have the capability to deliver innovative solutions to top tier clients, emerging markets and global customers.”
RR Media currently offers digital media services to more than 1,000 media companies around the world. Each day the company claims to manage and deliver more than 24,000 hours of broadcast content, over 4,000 hours of online video and video-on-demand (VoD) content and over 350 hours of premium sports and live events – including major sporting events like the Super Bowl and the FIFA World Cup.
RR Media says it provides coverage for over 95% of the world’s population, delivering content to online video and Direct-to-Home (DTH) services, and populating content to over 100 VoD platforms.
The company’s services cover four main areas: global content distribution network with an optimised combination of satellite, fibre and the Internet; content management and playout services; management and delivery of premium sports, news and live events around the world; and other advanced online video services.
The acquisition is subject to regulatory approvals, which SES said it expects to be completed in the second or third quarter of this year.
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29 November 2021 @ 19:30:00 UTC