Verimatrix, a specialist in securing and enhancing revenue for network-connected devices and services, has been acquired by Inside Secure, in a deal worth $143 million in cash.
The deal includes an assumption of $18 million estimated net cash, and an estimated contingent earn-out of $9 million payable in Q2 2019. It is expected to close in the first quarter of 2019.
It will see Inside Secure deploying Verimatrix data analytics capabilities across all of its end markets, including connected devices and the video services market.
The company says the acquisition gives it a unique value proposition within the entertainment security market, enabling content providers and service operators to manage the most complex video security challenges particularly with regard to cloud-based solutions.
Amedeo D’Angelo, chairman and CEO of Inside Secure, said: “Verimatrix has become a key player in software-based security for entertainment content management through its scalable and comprehensive platform with a deep expertise in cloud-based data analytics and intelligence on security performance and video users’ behaviours.
“In this context, I’m very pleased to move ahead with the project to acquire Verimatrix which is the perfect fit to strengthen scale and reach of our value proposition in end markets that are fast shifting towards software and cloud-based security solutions while video content consumption is becoming multi-device and multi-format.”
Tom Munro, CEO of Verimatrix, Inc., added: “This transaction allows a great combination of technologies and expertise, bringing two well-respected market players together. It’s exciting to create a company with such a clear focus, a global presence, and a depth of expertise in the applications of security and analytics across critical market segments.”
