Acquisition expands Enghouse Interactive product portfolio
Enghouse Systems Limited (TSX:ENGH) announced today it has acquired Vidyo, Inc. for a purchase price of approximately $40 million. Vidyo’s annual revenue is approximately $60 million.
Headquartered in Hackensack, New Jersey, Vidyo is a provider of enterprise-class video software solutions that support visual communications across diverse end-points, networks of varying bandwidth and geographically dispersed locations. The company’s infrastructure software platform leverages patented video routing, management and interoperability technologies to deliver best-in-class video quality, reliability, scalability and security. Delivered in the cloud, on-premise or as a hybrid solution, Vidyo enables customers to more efficiently collaborate, interact and engage.
Vidyo also offers a broad API framework that allows enterprise developers to rapidly embed video communications into third-party applications, workflows and a broad range of devices. The company focuses on select vertical markets, particularly healthcare and financial institutions, where video quality, reliability and end-market specialisation are essential requirements. Vidyo is deployed in approximately 400 hospital networks and in approximately 120 financial institutions. Vidyo also provides visual communications within the broader enterprise collaboration market and in emerging public safety, field services and IoT use cases. The company’s platform and applications are used by over 1,700 customers, including some of the world’s leading brands within Vidyo’s focus markets.
“Vidyo’s suite of real-time video collaboration solutions extends our enterprise product offering into media and content and is complementary with Enghouse’s portfolio across all our business sectors,” said Steve Sadler, Chairman & CEO of Enghouse. “We are very pleased to welcome Vidyo’s customers, employees and partners to the Enghouse organisation.”
“We’re excited to join Enghouse because of the great product fit and our shared vision” said Michael Patsalos-Fox, Chairman and CEO of Vidyo. “Enghouse gives us the opportunity to amplify our product innovation, service, and support making this a great transaction for Vidyo’s customers and partners.”