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Motorola, Tut Systems sign definitive merger agreement

Posted: 27 Dec 2006     Print Version  Bookmark and Share

Keywords:IPTV  Motorola  video encoding  Tut Systems 

Motorola Inc. and Tut Systems Inc. have signed a definitive merger agreement, under which Motorola will acquire all of the outstanding shares of Tut Systems common stock for Rs.52.35 ($1.15) per share in cash. The transaction has a total equity value of approximately Rs.177.53 crore ($39 million) on a fully-diluted basis.

Tut Systems provides carrier-class end-to-end digital video encoding, processing and distribution products. Their solutions support MPEG-2 and MPEG-4 AVC video compression, local ad insertion, forward error correction, and real-time conditioning of video and audio.

According to the press release, the integration of Tut Systems' solutions with Motorola's digital video delivery solutions will expand the latter's ability to help service providers deploy advanced video services over IP, ATM or RF-based network architectures.

"This transaction brings together the telco-aware IPTV processing capabilities of Tut Systems with Motorola's proven video delivery expertise. Together, our combined portfolio will provide service providers with next-generation solutions for delivering rich video experiences into the connected home—and out into the world," said Dan Moloney, president, Motorola connected home solutions.

"Motorola's financial resources and customer relationships will enable us to address larger customer opportunities that were challenging as a smaller company. My team is committed to working closely with Motorola to ensure a rapid and seamless transition," said Sal D'Auria president and CEO of Tut Systems.

Upon completion of the transaction, Tut Systems will become a wholly-owned subsidiary of Motorola and will be integrated into the Motorola connected home solutions business.




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