NeuLion—a technology product and service provider specialising in the digital video broadcasting, distribution and monetisation of live and on-demand content to internet-enabled devices—and entertainment company Endeavor have announced that they have entered into a definitive agreement by which Endeavor will acquire NeuLion in an all-cash deal valued at approximately $250 million.
Under the terms of the agreement, Endeavor will acquire outstanding common stock of NeuLion for 84 cents per share. Upon completion of the transaction, NeuLion will become a privately held subsidiary of Endeavor.
Analyst Comment
NeuLion has the MainConcept brand for video tools including Codecs and transcoding technology and has done a lot of work in live OTT transmission. It has licensed its CE SDK to Samsung, LG and Sony for support of HEVC streaming. It bought DivX in February 2015, although it sold the DivX assets not required for OTT streaming to Fortress Investment earlier this year, which saw the NeuLion share price jump.(BR)
