ADB buys Pirelli Broadband

Advanced Digital Broadcast Holdings (ADB), has bought Pirelli Broadband Solutions for E30 million – E22 million in cash and 400,000 ADB shares, about 7 per cent of the company which is quoted on the Swiss exchange. Pirelli’s disposal is part of its stated strategy of focusing on its core tyre business.

ADB says acquiring Pirelli is an important step in the Group’s strategy: the Group will gain an important piece of communication technology and product that fits  nicely into its overall vision of converging multimedia. In the near term, the acquisition will also add significantly to the Group revenue.

Francois Pogodalla, CEO of ADB commented: “The acquisition of PBS helps us to  strike to the  core of convergence  of pay TV  and IP-based, multimedia, and multiscreen  services. It  brings us  a complete  portfolio of broadband gateway products  and know-how which we will combine  with our pay TV set-top boxes, our Virtual  Gateway home networking platform, and our Carbo user interface. We will be  in a position to deliver to operators an end-to-end, converged multi-service set  of  solutions  based  on open-standards  and interoperability. We see this acquisition  as a clear increase of our  overall strength, both in the marketing and sales as well as in the R&D areas.”

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