Business
Novra Technologies, Inc. to Acquire Wegener Corporation and Westport Research Associates, Inc.
Merger signals significant industry consolidation for radio, datacasting, and digital signa...
About this update from Novra Technologies Inc.
[{"type":"text","content":"\n\n\nMerger signals significant industry consolidation for radio,\n datacasting, and digital signage solutions\n\n\nWINNIPEG, Feb. 5, 2014 /CNW/ - Novra Technologies, Inc. (TSX Venture\n Exchange: NVI.V), a leading Global provider of premium products and\n solutions to the datacasting, digital signage and IP-TV markets, today\n announced that it will acquire Wegener Corporation of Johns Creek,\n Georgia and Westport Research Associates, Inc. of Raytown, Missouri.\n\n\nNovra Technologies has signed term sheets with Wegener Corporation and\n Westport Research Associates for Novra to acquire these two companies.\n The transaction is subject to Novra's due diligence and the approval of\n Wegener Corporation shareholders.\n\n\n\"The product portfolio of the combined companies will provide a powerful\n suite of capabilities for large-scale networks in radio broadcasting,\n business music, broadcast video, digital signage and IP-TV,\" stated\n Harris Liontas, President and CEO of Novra Technologies, Inc. \"Wegener\n Corporation and Westport Research Associates, Inc. are not just simple\n acquisitions but a merger allowing for the creation of a\n solutions-based provider that will offer clients a broader scope of\n services and deeper access to industry expertise.\n\n\n\"Representing the first step in Novra Technologies' strategic vision to\n combine companies with strong product line, broad install base and\n operational synergies, these acquisitions are expected to be completed\n in the first or second quarter of 2014.\"\n\n\nCombined, the three companies have deployed over 450,000 devices in more\n than 50 countries across 6 continents providing content to hundreds of\n millions of consumers. The opportunity to integrate industry-leading\n software and hardware, both at the entry and enterprise level, will\n result in value-added enhancements to existing and future clients.\n\n\n\"This acquisition represents an exciting improvement for Wegener\n Corporation, its shareholders, and its customers. There are product\n synergies with very little overlap,\" stated Troy Woodbury, President\n and CEO of Wegener Corporation. \"Novra Technologies' worldwide\n distribution channels strengthen Wegener Corporation's ability to\n leverage our extensive installed base of digital signage, broadcast\n radio, and private video networks to develop a t...