Vislink has announced its acquisition of Pebble Beach Systems for a total consideration of £14.9 million. The company has been purchased with in excess of £5.9 million cash on the balance sheet, resulting in an effective net consideration of £9 million.
With the acquisition, Vislink aims to move into the provision of software solutions for playout with advanced software technology. The company's existing capabilities of offering broadcasters wireless communication systems for the capture of live TV coverage will now be complemented with TV automation and media management services for broadcast studios. Vislink hopes offer broadcasters a complete 'scene to screen' solution.
Pebble Beach Systems now has access to a global network of over 900 broadcasters that Vislink works with, as well as its international network of offices. Founded in 2000 and employing over 60 staff, Pebble Beach Systems is a developer and supplier of automation, channel in a box and content management solutions for TV broadcasters, cable and satellite operators.
Commenting on the acquisition, John Hawkins (pictured), Vislink's executive chairman, stated: "The acquisition fits perfectly into our long term strategy of acquiring software and services capability that we hope to drive recurring revenues for the Group."
"We are delighted to be joining the Vislink Group. It has a fantastic global tier 1 client base in the broadcast sector that will give us an excellent platform for accelerated growth,” added managing director of Pebble Beach Systems, Peter Hajittofi.