Imagine Communications announces acquisition of RGB Networks
Imagine Communications has signed a definitive agreement to acquire the assets of multiscreen video delivery solutions provider RGB Networks. The transaction, subject to customary approvals and closing conditions, will include the majority of RGB Networks’ employees.
The acquired assets will be integrated into the Imagine Communications advertising management and video infrastructure portfolio. RGB Networks provides IP cloud-based video delivery solutions that help enable media providers to streamline and monetize TV Everywhere and OTT services with reliability and scalability. With core technology strengths in video packaging, cloud DVR and ad insertion, RGB Networks’ products are deployed in over 400 communication service providers worldwide.
“As the industry’s leading end-to-end video solutions company in the world, Imagine Communications is defining the blueprint for an IP, software-defined, cloud-virtualized, multiscreen future,” said Charlie Vogt, CEO of Imagine Communications. “Our customers require video solutions that enable content to be delivered anywhere, anytime, and on any device. The acquisition of RGB Networks, combined with our innovation in video playout and distribution, enables us to strategically navigate the convergence of IP, mobility, and the Internet, which has changed the way we consume entertainment and information.
“We also gain an enviable customer base and will continue to support the RGB Networks product portfolio. Equally exciting, we are acquiring a world class technology, operations and sales team, which has been focused on IP and software-based cloud solutions for several years.”
Among its solutions, RGB Networks’ Just-in-Time Packaging simplifies and enhances the delivery of streaming media to a consumer’s device of choice, complementing Imagine Communications’ compression expertise and leadership in ABR transcoding and encoding. Just-in-Time Packaging enables media companies to deliver video on demand (VOD), cloud DVR and TV Everywhere services without pre-packaging video assets in each of the adaptive streaming formats. This drastically reduces the need for costly storage and network bandwidth – allowing video providers to more quickly and cost-effectively expand their TV Everywhere libraries and transition to new adaptive streaming formats.