Business Wire India
SES Platform Services GmbH (SES PS), a wholly-owned subsidiary of SES S.A. (NYSE Paris:SESG) (LuxX:SESG), announces an agreement whereby RR Media (NASDAQ: RRM), a leading provider of global digital media services to the broadcast and media industries, will merge its operations with those of SES PS, to create a world-leading global media solutions provider.
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RR Media to Merge with SES Platform Services, Creating a World-Leading Global Media Solutions Provider (Photo: Business Wire)
SES will pay a consideration of USD 13.291 per share to acquire a 100% interest in RR Media. The consideration corresponds to an Enterprise Value of USD 242 million, which will be funded from the group’s existing financial resources. The acquisition is subject to regulatory approvals, which are expected to be completed in Q2/Q3 2016.
RR Media provides scalable, converged digital media services to more than 1,000 media companies globally. Every day, the company manages and delivers over 24,000 hours of broadcast content, over 4,000 hours of online video and VOD content and over 350 hours of premium sports and live events including major global sporting events such as the Super Bowl and the FIFA World Cup. RR Media provides coverage for over 95% of the world’s population, reaching viewers of multi-platform TV operators and populating content to over 100 Video-on-Demand (VoD) platforms, as well as delivering content to online video and Direct-to-Home (DTH) services.
By providing a complete range of digital media services, RR Media enables the richest possible user experience, expands audience reach and increases monetisation capabilities for its customers. The company’s services cover four main areas: global content distribution network with an optimised combination of satellite, fibre and the Internet; content management and playout services; management and delivery of premiumsports, news and live events around the world; and other advanced online video services. This state-of-the-art offering supports the diverse service requirements of some of the world’s leading media companies, broadcasters and content rights owners holders including the BBC, Disney, Fox, IMG, ITV, MP Silva, NFL, and Viacom. RR Media operates from four principal media centres (in Bucharest, London, Pennsylvania and Tel Aviv).
On completion of the transaction, RR Media and SES PS will be combined to create a new, stand-alone world-leading media services provider, offering full continuity and enhanced service to their existing customers. With a comprehensive range of innovative video and media solutions on a global scale, the new organisation will focus on offering its customers highly optimized content management and distribution solutions that utilize the combined network of SES PS and RR Media leveraging their multiple satellite positions as well as a large fibre network and the Internet, in order to maximise audience reach and add monetisation capabilities.
Wilfried Urner, Chief Executive Officer of SES Platform Services, commented: “RR Media has successfully developed the capability to manage and deliver premium content effectively, helping its customers to reach a global audience over multiple satellite, cable TV, IPTV, online and mobile platforms. SES, as the largest global platform for video in terms of reach and channels, adds global scale and considerable insights from the successful development of SES PS in Europe.”
Ferdinand Kayser, Chairman of SES Platform Services, added: “This is an exciting acquisition and an important milestone in the execution of SES’s differentiated strategy focused on Globalisation, Verticalisation and Dematuring. The addition of RR Media further accelerates the globalisation of SES’s services businesses, establishing a world-leading next generation video and media service provider.”
Avi Cohen, Chief Executive Officer of RR Media said:“SES Platform Services is an important industry player with the capabilities to service strong upper tier clients. With the combined infrastructure and industry expertise, the integrated company will have the capability to deliver innovative solutions to top tier clients, emerging markets and global customers. RR Media’s growth strategy has focused on top tier client and increasing scale. This deal achieves both of these strategic goals.”
About SES Platform Services
SES Platform Services brings linear and non-linear audio-visual content of the highest quality to wherever viewers want it – on any device, in all formats and via all distribution channels. With its comprehensive services portfolio, SES Platform Services helps television broadcasters, production companies and platform operators realize their business models. All services are systematically adapted to the digital value chain of the customer. As one of the leading technical media service providers in Europe, SES Platform Services broadcasts more than 300 channels via satellite, cable and the Internet, as well as thousands of hours of video content delivered to video-on-demand platforms.
SES S.A. (NYSE Paris:SESG) (LuxX:SESG) is a world-leading satellite operator with a fleet of more than 50 geostationary satellites. The company provides satellite communications services to broadcasters, content and internet service providers, mobile and fixed network operators and business and governmental organisations worldwide.
SES stands for long-lasting business relationships, high-quality service and excellence in the satellite industry. The culturally diverse regional teams of SES are located around the globe and work closely with customers to meet their specific satellite bandwidth and service requirements.
SES holds a participation in O3b Networks, a next generation satellite network combining the reach of satellite with the speed of fibre.
Further information is available at: www.ses.com