In a deal struck late Thursday night in Amsterdam, Cobalt Digital has announced its acquisition of ImmediaTV, a Silicon Valley company focused on IP-centric video-processing solutions in both openGear and standalone formats for broadcast, live event, streaming and IPTV applications.
The two companies have worked together closely for five years, creating bundled solutions for mutual customers. By acquiring ImmediaTV’s products and video-compression expertise, Cobalt said it can accelerate the growth of its IP product line.
Said Bob McAlpine, executive vice president of sales and marketing at Cobalt Digital: “ImmediaTV is a respected broadcast industry brand and a well established openGear vendor with a large and happy customer base. Sharing our customers and using the same platform will help increase sales, grow revenue and reduce costs as we cross-pollinate.
“We have great admiration for ImmediaTV’s engineering talent, who are veterans in the broadcast and network-equipment industries.
They are brainiacs; brilliant men. We’ll be able to develop compression products more quickly and with superior features and benefits in order to meet demand as the industry transitions to IP-based signal transport.”