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Evertz Technologies Limited Reports Purchase Order in Excess of $25 Million and Delivery of Expression of Interest to Acquire Haivision Systems Inc.
Burlington, Ontario--(Newsfile Corp. - April 14, 2023) - Evertz Technologies Limited (TSX: ET) ("...
About this update from Evertz Technologies Limited
[{"type":"text","content":"Evertz Technologies Limited Reports Purchase Order in Excess of $25 Million and Delivery of Expression of Interest to Acquire Haivision Systems Inc.Burlington, Ontario--(Newsfile Corp. - April 14, 2023) - Evertz Technologies Limited (TSX: ET) (\"Evertz\") a global leader in media and entertainment technology solutions, reported the receipt of a purchase order today from an International customer, in excess of $25 million, for delivery of Evertz solutions. The purchase order reflects an Evertz hybrid solution with an Evertz IP core, including next generation EXE 3.0 high capacity routing cores, EQX routers, IP gateways, high density multiviewers, visualization, Magnum orchestration and Vue.Evertz also announces that it has delivered an expression of interest letter to the President, CEO and Chairman of Haivision Systems Inc. (\"Haivision\") outlining a proposal to acquire Haivision for $4.75 per share in cash. The all-cash proposal was submitted to Haivision on April 14, 2023. The non-binding expression of interest contemplates a negotiated transaction whereby Evertz would acquire all of the issued and outstanding shares of Haivision. Any formal, binding offer would be subject to completion of due diligence procedures by Evertz. Reader AdvisoriesThis communication does not constitute a proxy statement or solicitation of a proxy, an offer to buy or solicitation of an offer to buy any securities. Such an offer may only be made pursuant to offer and take-over bid circular filed with the securities regulatory authorities in Canada. This communication relates solely to a non-binding expression of interest that Evertz has made for a negotiated transaction with Haivision. About EvertzEvertz designs, manufactures and markets video and audio infrastructure solutions for the television, telecommunications and new-media industries. The Company's solutions are purchased by content creators, broadcasters, specialty channels and television service providers to support their increasingly complex multi-channel digital, and high and ultra-high definition television (\"HDTV\" and \"UHD\") and next generation high bandwidth low latency IP network environments and by telecommunications and new-media companies. The Company's products allow its customers to generate additional revenue while reducing costs through efficient signal routing, distribution...