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Ericsson to acquire leading media services company Red Bee Media
TT Correspondent |  |  18 Jul 2013

Ericsson , a world-leading provider of communications technology and services, is planning to acquire  Red Bee Media, a world-leading media services company headquartered in the UK, from an entity controlled by Macquarie Advanced Investment Partners, L.P.
 
The acquisition, which is subject to regulatory approval, supports Ericsson's strategy to grow in the broadcast services market and takes advantage of its technology and services leadership to help broadcasters and content owners address the convergence of video and mobility.
 
It will bring 1,500 highly-skilled employees, as well as media services and operations facilities in the UK, France, Germany, Spain and Australia. This will further strengthen Ericsson's broadcast services business, which was started in 2007 and expanded in 2012 with the acquisition of Technicolor's Broadcast Services Division.
 
With 1,240 of Red Bee Media employees being based in the UK, Ericsson's UK business would grow to around 4,000 employees and with more than one-third working in the media services business, the UK will become a global media hub for Ericsson.
 
Since its foundation in 2005, Red Bee Media has established itself as a strong and diverse business with a growing number of customers around the world. It provides a range of media services; from media asset management to playout and digital video publishing, metadata services, multilingual access services and creative services to major broadcasters and broadband platforms. Red Bee Media, which is known for its high quality playout services, is also the largest editorial metadata provider in Europe, delivers more than 100,000 hours of subtitling per year for leading broadcasters.
 
The Television and Media industry is undergoing an unprecedented transformation driven by consumers' appetite for rich, interactive, anytime, anywhere entertainment. The confluence of communications, broadband and media technologies and the use of IP and mobile networks to generate and deliver such experiences is creating new opportunities in the ecosystem.
 
New services are expanding and re-defining the way consumers experience entertainment, placing new economic and creativity demands on businesses - whether they be broadcasters, telcos or other media companies - worldwide. According to the Ericsson Mobility Report June 2013 release, video is the single biggest contributor to traffic in mobile networks and this is expected to grow 60 percent annually until the end of 2018.
 
Serving one billion subscribers worldwide, Ericsson is the leading provider of managed services for telecom operator networks. It has invested in processes, methods and tools in this segment for more than 15 years. In recent years, Ericsson has expanded this successful business model to other industries, such as utilities, transportation and the TV industry.
 
The closing of the acquisition is subject to approval from relevant regulatory authorities and other contractual conditions. After completion, Red Bee Media will be incorporated into Ericsson's Business Unit Global Services.

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18 Jul 2013(IST)  
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