SANDEFJORD, Norway--(BUSINESS WIRE)--Network Electronics today announces that it has signed a definitive agreement to acquire Video Products Group Inc. of Oxnard, California, USA. The transaction is expected to close in January 2008.Founded in 1985, Video Products Group® (VPG) is a leading provider of professional video/audio transport systems for local and wide area networks that employs approximately 60 people world-wide. Video Products Group is well respected in the telecommunications industry through its highly reliable carrier class transport equipment and outstanding customer care. Major carriers around the world rely on VPG for video transport and broadcast services.
The agreement combines two companies that are true industry leaders within their respective fields to form a powerful player in the professional video and audio signal transport markets. The deal enables Network Electronics to increase its scope and scale with the industry’s most comprehensive product portfolio for the professional video transport market.
“The video market is presently undergoing rapid consolidation and convergence, and it is critically important that companies can choose video transport solutions that bridge the telco and broadcast worlds and maximize future flexibility. By bringing together VPG’s technology and video transport expertise with Network Electronics proven solutions, we are able to create a best-in-class offering for video transport solutions. Moreover, VPG’s strong telco customer base, combined with Network Electronics extensive global market presence, adds significant momentum to Network Electronics with increased critical mass and greater opportunities for future growth.” says Oddbjørn Bergem, CEO, Network Electronics.
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