Brief: Ericsson set to buy U.S. video encoding firm Envivio for 125 mln USD

Greenlight Biosciences Holdings PBC

10/09/2015 11:00

Sept 10 (Reuters) - Telefonaktiebolaget L M Ericsson 
 ERICb.ST  
    * Ericsson announces agreement to acquire Envivio  ENVI.O , 
a global leader in software-based video encoding with an 
installed base of over 400 TV service provider and content 
owner customers in all markets globally.  
    * Says tender offer for a price of USD 4.10 per share in 
cash, or approximately USD 125 million in aggregate 
    * Envivio generated revenues of USD 43 million during full 
year 2014 and is headquartered in San Francisco, CA. 
    * Says certain of Envivio's major stockholders, collectively 
owning approximately 34 percent of Envivio's outstanding common 
stock, have entered into a tender and support agreement with 
Ericsson committing to tender all of their envivio shares 
    * Says board of directors of Envivio has unanimously agreed 
to recommend that Envivio's stockholders tender their shares to 
ericsson in tender offer. 
    * The acquisition is expected to close in the fourth 
quarter, 2015, subject to customary closing conditions 
 
Source text for Eikon:  ID:nHUG2j0Jgm  
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