AptoVision Technologies, manufacturer of the BlueRiver chipsets for AV signal distribution and founding member of the SDVoE Alliance, is to be acquired for $28 million.
The buyer is Semtech Corporation, a supplier of high-performance analogue, mixed-signal semiconductors and algorithms, with an established broadcast video portfolio. Under the terms of the purchase agreement, Semtech will acquire the outstanding equity interests of AptoVision, which is privately held, for a cash purchase price of $28 million; subject to achieving certain future financial goals, additional payments of up to $47 million may be made.
Publicly traded since 1967, Semtech is headquartered in Camarillo, California and has 31 offices in 14 countries. The acquisition is expected to add over 30 employees based in Montreal: AptoVision's CEO, Kamran Ahmed, will join Semtech, reporting to Gary Beauchamp, executive vice president and general manager of Semtech's Signal Integrity Products Group.
According to the acquisition announcement, "The combination of AptoVision's advanced algorithms for real-time, full-bandwidth video transmission over IP networks, and Semtech's industry leading high-speed signal integrity and chip development expertise is expected to enable SDVoE to accelerate this natural progression in the evolution of video transport."
"Semtech is a leader in the SDI broadcast video market and with the acquisition of AptoVision's pioneering BlueRiver technology for video over IP, we are further expanding our opportunity into the fast growing Pro AV market and solidifying our commitment to the video industry," stated Gary Beauchamp.
"AptoVision has enabled its customers to lead the transition of the pro AV market away from matrix switching and into video over IP," said Kamran Ahmed. "Becoming part of Semtech, with its global infrastructure, will increase our ability to serve customers as they continue to reshape the pro AV space."
The acquisition, subject to customary closing conditions, is expected to close during Semtech's current fiscal quarter.