Orad Enhances its Sports Solutions

Orad enhances its sports solutions with an investment for 63% of the fast turnaround MAM vendor - IBIS

Orad Hi-Tec Systems Limited (Symbol: OHT), a world leading provider of real-time video graphic solutions announced today the signing of an investment agreement for 63.38% of Integrated Broadcast Information Systems Limited, (IBIS). As part of the deal Orad will invest 2.11million US dollars in cash with an option to increase its holdings to 100% within the next 54 months.  Future investment price is dependent on the future revenues and net profits.  Completion of the transaction is expected within the next 3 months.

advertisement

IBIS was established in 1991 and specialises in the fast growing market of Media Asset Management (MAM) for fast turn-around file based workflows in Sports and News. IBIS’s headquarter is in the UK with support operations in North America and Asia. Some of IBIS's customers include ESPN Star Sports, the BBC and the Irish Parliament, Dublin.

With the growing market demand for fast turnaround tapeless workflows in the sports broadcasting market, Media Asset Management technologies enable the exploitation of the customer’s media and effectively manage it; during such events it is imperative to capture and catalog key plays during the event in the fastest and most efficient fashion. The IBIS solution does just that. The IBIS iFind is an integrated suite of browser based Media Asset Management (MAM) applications providing users with the functionality to ingest, annotate, tag, store, edit, move and transmit or publish media content.

advertisement

Avi Sharir President and CEO of Orad commented “we are extremely happy with the acquisition of IBIS. We see many synergies between IBIS's portfolio and Orad’s graphics and video server range of solutions. The integrated solution between Orad and IBIS will further enhance Orad’s position in the sport and news market segments, offering our customers significant added value”

Mike Shaw Managing Director of IBIS commented “we are delighted to be joining forces with Orad and the combination of our products make a powerful offering for the demanding environments of sport and news. The relationship will allow us to grow and further exploit our innovative solutions in this exciting market”

advertisement

advertisement

advertisement

advertisement

advertisement