Montréal and Chicago headquartered Haivision has entered an agreement to acquire Aviwest on a cash-free and debt-free basis for cash consideration of $29.4 million CAD (20.5 million EUR).
UPDATE (04/04/22): Haivision has completed its acquisition of Aviwest.
Toronto Stock Exchange (TSX)-listed Haivision was founded in 2004 and provides real-time video streaming and networking solutions. Its technology is designed to enable organizations to engage audiences, enhance collaboration, and support decision-making. Some of its clients include Allstate Insurance, BP, the United States Department of Homeland Security, and the National Football League (NFL).
With around 400 employees, Haivision maintains regional offices located throughout the Americas, Europe, and Asia.
Aviwest would mark Haivision’s second acquisition after it began trading on the TSX in December last year.
Haivision also created Secure Reliable Transport (SRT), an open-source video transport protocol and technology stack used to optimize video streaming performance across unpredictable networks.
Launched in 2008, France-based Aviwest offers mobile IP-based video contribution systems used by over a thousand broadcasters, online media, news agencies, social media companies, and first responders to cover breaking news and live events.
Aviwest would mark Haivision’s second acquisition after it began trading on the TSX in December last year. The first was Atlanta-based CineMassive Displays, which offers video collaboration solutions, bought for about $37.2 million CAD in June. Before becoming public, Haivision acquired Teltoo, another startup based in Spain.
Aviwest claims it developed a number of “world firsts” including: portable cellular video transmission, live video transmission over a 4G network implementing Quality of Service, and live 4K video transmission over a 5G network. The video tech startup has also received two Emmy awards for its Safe Streams Transport networking technology for reliable transmission of video over bonded networks.
By acquiring Aviwest, Haivision intends to expand its technology and solution portfolio with 5G transmission, mobile video contribution, and network bonding technology. The company also plans to expand its workforce to over 400 employees.
Haivision noted that the addition of Aviwest will give Haivision a “comprehensive video contribution solution portfolio to address the growing demand for live, high-quality video content in broadcast, sports, and live event production.”
Feature image from Paul Einerhand via Unsplash.