Tandberg strikes GoldPocket for $78.5 M
Closely-held GoldPocket develops and markets iTV software creation and management platforms for service operators and content providers. Among recent deals, GoldPocket paired up with HSN on the creation of a 24/7 iTV service that will enable viewers to purchase products via the remote control. CBS tapped GoldPocket earlier this year to build interactivity into several shows, including its popular Survivor franchise. Other big Gold Pocket customers in North America include DirecTV, Fox and Time Warner.
The acquisition is expected to shore up Tandberg's iTV software and technology portfolio, and establish it with television programmers and other content providers.
Last year, the company purchased N2 Broadband, a company specializing in video-on-demand backoffice software, for $118 million. Before its foray into VOD and iTV, Tandberg was well known for digital video gear, including encoding gear based on advanced compression platforms such as MPEG-4.
"The addition of GPI's interactive technology and tools will bring us into the content core, where we can assist our customers in deploying interactive applications that have a direct impact on their revenues and consumer appeal," said Tandberg President & CEO Eric Cooney, in a release.
GoldPocket, which employs 85 people, will be maintained in Los Angeles when the deal closes in December. Its estimated fiscal year 2005 revenues are $12 million.