Espial® Group Inc. a provider of on-demand TV software and solutions, today announced that it has completed the previously announced acquisition of ANT plc ("ANT"). After initially entering into a co-operation agreement with ANT on Nov. 30, 2012, Espial has purchased all of the outstanding shares of ANT in exchange for all cash consideration of £0.205 per outstanding share. The acquisition values the issued ordinary share capital of ANT at approximately £5 million.
"Delivering a high-quality user experience across set-top boxes, smart TVs, tablets, and smartphones is crucial to the success of today's TV service providers," said Jaison Dolvane, CEO of Espial. "The ANT acquisition further strengthens Espial's position as an HTML5 market leader to help to accelerate TV service providers' transition to IP video delivery."
ANT, headquartered in Cambridge, UK, provides IP, hybrid, and connected TV products and services. Its customers include major TV manufacturers, set-top box vendors, broadcasters, and service providers. ANT has successfully deployed high-performance software featuring rich HTML5 user experiences across set-top boxes, tablets, and smartphones. The company has also attained significant industry thought leadership through standards initiatives as a founding member of HbbTV, Europe's leading HTML5-based hybrid broadcast broadband TV standard.
