European satellite company SES buys Israeli RR Media for $242 million

Avi-Cohen_ceo RR MEDIA SOLD TO European satellite company SES -

 

European satellite company SES GmbH, a wholly-owned subsidiary of SES S.A. , has acquired Israeli satellites company RR Media Ltd., for $242 million. The European satellite company SES, has a €12.6 billion market cap. The perches will be funded from the group’s existing financial resources.  The acquisition is expected to be completed in Q2/Q3 2016.

RR Media led by Avi cohen will merge its operations with those of SES PS to create a global media solutions provider.

RR Media’s revenue totaled $101 million in the first three quarters of 2015, up 2.9 percent, compared with the corresponding period in 2014, according to Globes.

The value in the deal for RR Media, whose market cap has been as low as $117 million. RR Media held its IPO under its previous name of RRSat in 2006 at a company value of $210 million, and its current market cap is $148 million.

Rapac Communication and Infrastructure Ltd. holds a 34.2 percent stake in RR Media, reported to the TASE last September:

“A non-binding inquiry has been received by RR Media from an international company about acquiring all the shares in RR Media.” The announcement continued, “The inquiry is in the early stages, and the parties have not yet reached agreement on the terms of the deal, including the value of the company; there is no certainty that the parties will sign a binding agreement.”

RR Media provides scalable, converged digital media services to more than 1, 000 media companies globally. Every day, the company manages and delivers over 24, 000 hours of broadcast content, over 4, 000 hours of online video and VOD content and over 350 hours of premium sports and live events including major global sporting events such as the Super Bowl and the FIFA World Cup. RR Media provides coverage for over 95 percent of the world’s population, reaching viewers of multi-platform TV operators and populating content to over 100 Video-on-Demand (VoD) platforms, as well as delivering content to online video and Direct-to-Home (DTH) services.

RR Media providing a complete range of digital media services. The company’s services cover four main areas: global content distribution network with an optimised combination of satellite, fibre and the Internet; content management and playout services; management and delivery of premium sports, news and live events around the world; and other advanced online video services.

On completion of the transaction, RR Media and SES PS will be combined to create a new, stand-alone global media services provider, offering full continuity and enhanced service to their existing customers.

The new organisation will focus on leveraging its multiple satellite positions as well as a large fibre network and the Internet, in order to maximise audience reach and add monetisation capabilities.

 

 

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