OPTIBASE SIGN AGREEMENT TO ACQUIRE CORE OF HI-TV

OPTIBASE, providers of digital streaming solutions over broadband networks, have announced an agreement to acquire core technologies of Hi-TV and ECI Telecom’s video networking product.
Under the terms of the agreement, Optibase will pay $3.75 million in cash to ECI for joint ownership of core Hi-TV technologies.
As part of the agreement, core members of Hi-TV’s engineering and development team as well as the development environment will be integrated into Optibase.
In addition, Optibase will obtain a perpetual royalty free license for other technologies and products used by the Hi-TV unit.
CEO and Chairman of the Board of Optibase Ran Eisenberg said: “With the acquisition of Hi-TV’s technology, Optibase will not only gain a talented team of engineers, but a set of important assets and capabilities that we believe will strengthen Optibase’s media gateway product line by expanding our capabilities in the networking arena.”
Hi-TV is a leading developer of carrier-grade networking solutions optimised for TV distribution networking applications.
Optibase believes that this acquisition will enhance its capabilities in the areas of carrier-grade networking solutions and networking management solutions for the distribution of video over the carriers’ infrastructure.