According to the deal, Ateme will look to acquire 87% of Anevia’s shares 90% of the voting rights held by its majority shareholders.
Ateme and the majority shareholders of Anevia, who hold 87% of the company’s shares and 90% of the voting rights in the company, have entered into exclusive negotiations. According to the deal, Anevia’s majority shareholders will transfer their interest in the share capital of the company and their voting rights to ATEME. The transaction has received the prior unanimous support of the boards of directors of both companies.
With the acquisition, the two companies aim “to become a major player in video broadcasting infrastructure, with combined revenues of more than €80 million (USD 94m).
Speaking about the merger, Michel Artières, Chairman and CEO of ATEME, said: “A merger with Anevia and its high-performance solutions for optimising video flow delivery is a key step in our expansion strategy in our customers’ value chain and the conquest of new markets. Both companies share the same values of respect and innovation. Based on our mission to deliver the best quality of experience, our ambition is to become the reference video solution for billions of consumers. The shared vision of the two companies and their strong culture should enable us to rapidly create significant value for our customers, employees and shareholders.”
Laurent Lafarge, Chairman and CEO of Anevia, added: “Anevia’s management is delighted with this project to combine with ATEME, the leader in video distribution infrastructure. This combination is a tremendous opportunity to accelerate development in a buoyant market, thanks to a value proposition which is rich and strong in innovation.”
Subject to obtaining the opinions of the relevant employee representative bodies in both companies, and the reports of the independent expert and the contribution auditors, the Acquisition and Contribution transactions could be completed before the end of Q3 of 2020 and the offer before the end of Q4 of 2020.