Montreal-based real-time video streaming company Haivision Systems (TSX: HAI) has received a non-binding takeover bid from Evertz Technologies (TSX: ET), a video and audio infrastructure solutions maker based in Ontario. Evertz has proposed to acquire all of Haivision’s issued and outstanding common shares for US$4.50 each, as they are currently the third-largest shareholder of Haivision.
If a formal and binding offer is made, it will be subject to the completion of due diligence procedures by Evertz. Haivision’s board is currently reviewing the proposal and will provide an update in due course.
Haivision is a prominent global provider of mission-critical, real-time video streaming and visual collaboration solutions. Their connected cloud and intelligent edge technologies enable organizations worldwide to engage audiences, enhance collaboration, and support decision-making processes. In the 2022 financial year, Haivision reported a revenue of C$125.7 million and an adjusted EBITDA of C$8.1 million.
Evertz Technologies designs, manufactures, and markets video and audio infrastructure solutions for the television, telecommunications, and new-media industries. Their solutions are widely used by content creators, broadcasters, specialty channels, and television service providers to support complex multi-channel digital network environments. Evertz products enable customers to generate additional revenue and reduce costs through efficient signal routing, distribution, monitoring, and management of content, as well as automation and orchestration of workflow processes both onsite and in the cloud.
