Nevion and T-VIPS, pioneers of media transport for broadcasters, service providers and government entities worldwide, announced Wednesday the completion of their merger following regulatory approvals.
The new company, named Nevion, said it is committed to preparing customers for the next generation of media transport from acquisition to the home. The merger is structured as a cash and shares transaction. No further financial details of the deal were revealed.
“After more than 25 years Nevion continues to be an innovator in professional media transport and delivery,” said Geir Bryn-Jensen, CEO, Nevion. “As broadcast, IT and telecoms technologies converge, the new Nevion will continue to help customers take advantage of this disruptive change in the market. We’re influencing the future of media transport and delivery, and enabling emerging business models with integrated solutions for managed media services over IP, optical and terrestrial networks.”
Management from both Nevion and T-VIPS join Bryn-Jensen on the new management team. Former T-VIPS CEO Johnny Dolvik joins as chief strategy officer, COO and CFO Janne T. Morstøl becomes chief product and marketing officer, and chief commercial officer Arnhild Schia continues her role in the new Nevion organization. Existing Nevion management team members Eugene Keane, CTO, Nils Fredriksen, CFO, and Petter Kvaal Djupvik, COO, will continue in their positions on the new team.
The two companies’ merger was first announced in September last year, pending regulatory approvals.
According to Johnny Dolvik, CEO of T-VIPS, said the merger will give them critical mass, increased market presence and will enable them to realize their our shared vision to shape the future of media transport right across the media value chain.
“We have a complementary culture of innovation and a vision that we believe will resonate and bring benefits to our customers and partners. We’re very excited by this opportunity and are very much looking forward to working with our new colleagues to realize our joint vision,” he added.
