Haivision Systems has announced a definitive agreement to acquire CineMassive Displays. With the addition of the CineMassive technology, Haivision will combine low latency live video with real-time secure data sources and communication elements to provide customers with a single-vendor solution for situational awareness. Combining real-time video with intelligent data visualisation allows Haivision to provide a critical visual collaboration platform for Global Security Operations Centres (GSOC), cybersecurity, joint and tactical operations, and control rooms
CineMassive develops mission-critical visual collaboration technology including CineNet, a solution that aggregates content from multiple real-time sources for display and interaction within control room operations centres. It also enables secure sharing for situational response across multi-site organisations and with remote collaborators.
“Cybersecurity, network and physical threats are today’s reality that governments and large enterprises are now addressing with global multi-disciplinary teams,” said Mirko Wicha, Haivision President and CEO. “With the combination of Haivision and CineMassive technologies, customers can create a secure, global common operating picture from a single vendor leveraging both cloud connectivity and intelligent edge capabilities.”
According to the manufacturer, bringing together real-time secure video networking and data visualisation creates a unique offering in the market to assist with the challenge of immediate and coordinated response to complex situations. Haivision will offer end-to-end solutions tailored for mission-critical collaboration in GSOCs, joint and tactical operations centres, public safety operations centres and control rooms.
“We have worked with Haivision for over 10 years and our companies share many common themes,” said David Minnix, Co-founder and CEO of CineMassive. “Our approach to real-time performance, security, and IT compliance in solving mission-critical challenges of the highest order is echoed by Haivision and reflected in the longstanding relationships that we both have with our customers.”
“Haivision and CineMassive are very complementary in the government and defence markets,” added Brian Henry, Haivision’s Senior Vice President of Global Sales. “Fortune 500 enterprises, public safety and emergency response teams are looking towards proven defence-style approaches to situational response, and towards companies like Haivision and CineMassive which are built upon years of engagement, reputation, and trust in the most challenging markets.”
The definitive purchase agreement provides that Haivision will indirectly acquire, through a wholly-owned subsidiary, 100% of the membership interests of CineMassive on a cash-free and debt-free basis for a total purchase price of US$30 million, subject to customary adjustments, of which US$15 million is payable by the issuance of 2,145,326 common shares of Haivision and US$15 million is payable in cash. The cash component of the transaction will be financed with Haivision’s cash on hand. The shares issued under the transaction will be subject to a four month hold period from the closing date under applicable Canadian securities laws. The closing is contingent upon the receipt of certain approvals, including that of the Toronto Stock Exchange, and satisfaction or waiver of all closing conditions, which are expected to be received within 30 days. The acquisition is expected to be immediately accretive.
