Espial, a specialist in on-demand TV software and solutions, is intending to buy ANT in exchange for cash at £0.205 per share valuing ANT at approximately £5 million (€6.2m).
ANT’s board of directors has recommended that shareholders accept the offer. Espial has already received irrevocable undertakings to vote in favour of the acquisition from holders of 47 per cent of ANT’s outstanding shares. The acquisition is expected to close in Q1, 2013.
ANT – headquartered in Cambridge UK – provides IP, Hybrid and Connected TV products and services. Its customers include major TV manufacturers, set-top box vendors, broadcasters and service providers. ANT has successfully deployed its high performance software featuring rich HTML5 user experiences across set-top boxes, tablets and smart phones. In addition, ANT is a founding member of HbbTV which is Europe’s leading HTML5-based hybrid broadcast broadband TV standard.
“Multiscreen video services on set-top boxes, smart TVs, tablets, PCs and smart phones are quickly becoming the new expectation for today’s consumers. Delivering a superior user experience across these devices is a critical element to the success of TV service providers,” said Jaison Dolvane, CEO of Espial. “The acquisition of ANT provides Espial with the increased scale, resources and depth of experience to extend our HTML5 market leadership.”