Ericsson announced its intention to acquire Red Bee Media, a media services company headquartered in the UK, from an entity controlled by Macquarie Advanced Investment Partners, L.P.
The acquisition, which is subject to regulatory approval, will bring 1,500 highly-skilled employees, as well as media services and operations facilities in the UK, France, Germany, Spain and Australia to Ericsson. This will further expand Ericsson's broadcast services business, which was started in 2007 and expanded in 2012 with the acquisition of Technicolor's Broadcast Services Division.
Since its foundation in 2005, Red Bee Media has provided a range of media services; from media asset management to playout and digital video publishing, metadata services, multilingual access services and creative services to major broadcasters and broadband platforms. Red Bee Media is also the largest editorial metadata provider in Europe, delivers more than 100,000 hours of subtitling per year for leading broadcasters.
"Ericsson is making a step change to our business, cementing our commitment to TV and broadcast services and continuing a journey we started in 2007," says Magnus Mandersson, Executive Vice President and Head of Business Unit Global Services, Ericsson. "We can create value for broadcasters by making digital content more accessible, enabling monetization of TV content more efficiently. Video traffic shows very strong uptake in the mobile networks and Ericsson can address the need of both broadcasters and telecom operators through our technology expertise and services capabilities."
The closing of the acquisition is subject to approval from relevant regulatory authorities and other contractual conditions. After completion, Red Bee Media will be incorporated into Ericsson's Business Unit Global Services.
DTG Staff | 01.07.2013