Orad intends to get 100% of IBIS

ORAD has signed an investment agreement of 63.38% in Integrated Broadcast Information Systems Limited (IBIS), being planned to complete 100% of its capital in 54 months. Ibis was established in 1991 specializing in the market in the Middle Management Middle Business (MAM).

Pray This Wednesday has signed an investment agreement of 63.38% in Integrated Broadcast Information Systems Limited (Ibis). As part of the agreement, Orad will invest 2.11 million dollars in cash, with an option to increase its shares up to 100% in the next 54 months. The amount of final investment depends on future net income and profits. Orad and Ibis hope to conclude the operation within three months.

IBIS was established in 1991 specializing in the market in the Middle Management Business Business (MAM) for file -based workflows in news and sports environments.

Based in the United Kingdom and support offices in North America and Asia, among some of its customers we find ESPN Star Sports, BBC and the Parliament of Ireland in Dublin.

With the growing demand for environments based on tape -free issuance workflows, it is essential to capture and catalog key plays during the broadcast of any event as quickly and efficiently. Ibis's solution pursues that.

The IFINE IFINE is an integrated Suite of Media Asset Management (mam) based on Browser that provides users with the possibility of ingesting, writing down, marking, storing, editing, moving and transmitting or publishing content on any platform.

Avi Sharir, president and CEO of Orad, has acknowledged being “very happy with the acquisition of Ibis. We see many synergies between the Ibis portfolio and the graphic solutions and video servers of Orad. The integrated solution between Orad and Ibis will further improve Orad's position in sports and news offering our clients an important added value”.

For his part, Mike Shaw, IBIS managing director has added that "we are delighted to join forces with Orad and the combination of our products configure a high range offer for the most demanding sport and news environments. The relationship will allow us to grow and exploit our innovative solutions in this exciting market."