NeuLion agrees to acquire TransVideo

NeuLion, an end-to-end IPTV service provider, has reached an agreement in principle to acquire the operating interests of TransVideo, a manufacturer of set top boxes utilised by the company, in exchange for 22,000,802 Company common shares. TransVideo shareholders will own approximately 15 per cent of the company, on a fully diluted basis, upon the consummation of the transaction.

The proposed transaction, if consummated, will provide the company with greater control over the future development of TransVideo’s set top boxes. TransVideo’s existing relationships in China will also afford the company with substantial opportunities for marketing its IPTV services.

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