OmniBus Systems announces $12.5m cash boost

OmniBus Systems have announced that its majority shareholder Palamon Capital Partners has made a new capital injection of $12.5m.
The funding is intended to retire debt and support further technology development and significant expansion of OmniBus’ US activities.
It follows the completion of a market study conducted on behalf of Palamon by the management consultants McKinsey & Company.
The study indicated that OmniBus' groundbreaking G3 architecture shows enormous potential in the broadcast market because it addresses the industry's demand for modular technology that is flexible and scalable.
The research also confirmed that OmniBus is well positioned for strengthening its US operations.
"The McKinsey research validates the vision and direction that OmniBus has taken to date," said Andrew Hawkins, a Partner at Palamon Capital Partners. "With the solid technological groundwork in place and the funding to support it, the company is now perfectly positioned to roll out the next generation of products at exactly the time that the industry demand is accelerating."
To guide the company through this new chapter in its development, Mike Oldham - previously the CEO of OmniBus Systems' North American subsidiary - has been appointed Chief Executive Officer with worldwide responsibilities.
Oldham, also formerly COO for Encoda Systems, said "We go into 2004 in great shape. As a result of a significant increase in orders during 2003, we have our strongest-ever order book and we have attracted important growth funding from our biggest shareholder.
"These are exciting times for the industry, for our company, our customers and our partners. With a management team in place that boasts decades of practical broadcast experience and that includes some of the best-known names in the industry, we are set to deliver the first products based on our G3 architecture.
"In the coming months, we'll be seeing a continued roll out of new products and more and more facilities going to air with them."
OmniBus G3 technology offers a unique implementation of micro-modular design, delivering integrated units of functionality, each of which addresses the precise requirements of individual users.
In sharp contrast to the "one-size-fits-all" approach of traditional software development, G3 provides tailored, task-specific modules that share a common interface.
Because this flexible, scalable architecture is based on standard, open-IT protocols, it allows broadcasters to use a single, consistent interface to integrate, control and configure OmniBus products and third-party equipment for smooth content-flow management throughout entire operations.
OmniBus' Chief Technical Officer, Ian Fletcher said: "The timing of the new investment, Mike Oldham's new role in the company and the first releases of G3 technology that are being extraordinarily well-received by the marketplace prove that OmniBus is facing the future with renewed confidence and vigour.
"The new technology platform combined with the support of our investors positions OmniBus to be the major broadcast software provider for years to come."
(GB)