MONTREAL – Broadcast equipment manufacturer Miranda Technologies has bought OmniBus Systems Ltd., the pioneer of IT-based media management and delivery solutions for television and Internet broadcasters, from European private equity firm Palamon Capital Partners for $48.7 million.
The company said that the all cash purchase will be financed equally between cash on hand and an existing credit facility.
Based in Loughborough, UK, OmniBus Systems has a large installed blue chip customer base which includes ABC, Ascent Media, Astro, AT&T, BBC, Chellomedia, Corus, Direct TV, Discovery, E!, FOX, SkyPerfect TV, Starz, and Turner. Miranda president and CEO, Strath Goodship, said the move means that his company is can now offer the complete range of playout solutions, from traditional hardware to a fully software-based environment.
“With its compelling IT-based playout and automation solution, called iTX, OmniBus is leading broadcasters away from multi-vendor, hardware-based systems, towards a single fully integrated, software platform", Goodship said in the announcement. “Over the past four years, iTX has been adopted by many of the world’s largest and most successful broadcasters to lower costs and streamline their operations. This next generation platform has proved to be both highly scalable and reliable.”
