The addition of HDR is consistent with NEPs stated strategy to expand its reach within broadcast services and media solutions and increases the company's ability to serve its clients in the Nordic region and worldwide.
NEP Group, the technical production partner supporting content producers of live sports and entertainment, has announced that it has signed a definitive agreement to purchase HDR Group, a full-service production partner headquartered in Stockholm, Sweden.
The agreement became effective on June 17, 2019, and the deal is expected to close in early Q3 or Q4 of this year, conditional upon the approval of the Swedish Competition Authority. Prior to closing, NEP and HDR will continue to operate as separate and independent companies.
HDR was founded in 2007 and today employs more than 100 employees who support clients in the live sports, entertainment and broadcast markets in Sweden, Norway, Denmark and Finland.
The addition of HDR is consistent with NEPs stated strategy to expand its reach within broadcast services and media solutions and increases NEPs ability to serve its clients in the Nordic region and worldwide.
The acquisition provides NEPs European divisions growth opportunities through the addition of HDRs broadcast centres and extensive studio footprint in the region, as well as opportunities in the reality and unscripted live TV market.
The addition of HDR provides both companies clients with access to an even more robust set of outsourced, end-to-end solutions supported by a deeper pool of skilled engineers and technicians.
This acquisition will be great for our clients in Europe and globally, said Mike Werteen, Global President, NEP Broadcast Services. Adding HDRs resources to NEPs gives us the ability to offer the best of the best in innovative technical solutions, talent and resources, led by strong local management teams.
This is a great cultural fit, added Paul Henriksen, President of NEP Europe. Our organizations share similar values and are founded on service-oriented cultures that are centred on delivering exceptional results through innovative solutions. We have a great deal of respect for HDRs work and their team.
Im proud of what weve accomplished in only a little more than a decade, said Mats Dahlström, CEO of HDR. Were excited about joining the NEP Worldwide Network as the next step in our evolution. Being a part of a high-quality organization will be a tremendous benefit to our staff and our clients.