Combined company creates driving force to secure and enable the
connected future across a broad range of industries
Complementary large global customer base across entertainment, mobile
and IoT industries
Established leadership team reflecting the strengths and capabilities
of both companies
AIX-EN-PROVENCE, France & SAN DIEGO–(BUSINESS WIRE)–Regulatory News:
Inside Secure (Euronext Paris:INSD), at the heart of security
solutions for mobile and connected devices, today announced the
successful completion of the acquisition of Verimatrix.
The combination accelerates the company’s strategic roadmap, offering an
improved value proposition for its customers with an expanded reach to
securely transform connected services across a broad range of markets.
This combination creates a unique offering in the entertainment security
market, a reinforced position in software and hardware security for the
mobile, internet of things (IoT) and connected cars markets, and new
growth opportunities in big data and business analytics applications.
The combined company enables success through trusted business insights
and easy to use security solutions.
Commenting on this announcement, Amedeo D’Angelo, chairman and CEO of
the combined company stated: “I am thrilled to welcome the Verimatrix
team and expertise to create a strong force in cloud-based security and
analytics. This is an exciting time for the new combined company, which
is ideally positioned to be a software-based security and analytics
powerhouse. By joining forces, we are able to offer our customers the
best value proposition in security, starting with entertainment and
mobile industries and moving towards markets, such as IoT and connected
cars, while deploying Verimatrix data analytics capabilities across our
end markets, and to continue to create value for our shareholders. I
would like to once again thank our shareholders for their support in the
financing of the acquisition.”
The combined company is led by an established leadership team that
reflects the strengths and capabilities of both companies under the
leadership of Amedeo D’Angelo, with the objective to support a smooth
and efficient cultural and business integration and grow the business.
Steve Oetegenn, who has served as president and chief sales and
marketing officer of Verimatrix, was appointed chief operating officer
for the combined company.
For 100% ownership of Verimatrix stock, Inside Secure paid, at closing,
$138.1 million in cash and an additional amount of $9.8 million set in
escrow to cover (i) potential post-closing adjustments and (ii) an
earn-out, estimated to be $8 million. The final amount of the earn-out
will be known in the second quarter of 2019 following completion of
year-end audit of Verimatrix earnings.
William Blair acted as financial advisor and McDermott Will & Emery
served as legal counsel to Verimatrix in connection with the
transaction, and Jones Day served as legal counsel to Inside Secure.
Financial reporting calendar
|Full-year 2018 results||
March 6, 2019 after market close
Conference call on March 7 at 830am (Paris time)
About Inside Secure
Inside Secure (Euronext Paris – INSD) is at the heart of security
solutions for mobile and connected devices, providing software, silicon
IP, tools, services, and know-how needed to protect customers’
transactions, ID, content, applications, and communications. With its
deep security expertise and experience, the company delivers products
having advanced and differentiated technical capabilities that span the
entire range of security requirement levels to serve the demanding
markets of network security, IoT and System-on-Chip security, video
content and entertainment, mobile payment and banking, enterprise and
telecom. Inside Secure’s technology protects solutions for a broad range
of customers, including service providers, operators, content
distributors, security system integrators, device makers and
semiconductor manufacturers. For more information, visit www.insidesecure.com.
Verimatrix specializes in enhancing and securing revenue for connected
devices and IP-based services around the world. Recognizing the need to
improve digital exchange between content providers and video service
operators, Verimatrix offers Viewthority™, a connected content
distribution platform that leverages its award-winning VCAS™ security
and Verspective® Analytics solutions, and unmatched partner ecosystem to
reduce the costs and complexities associated with legacy distribution
workflows. For more information, visit www.verimatrix.com.
Press and investor contacts
General Manager & CFO
+33 (0) 4 42 905
53 96 83 83
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