Deal for Edinburgh video tech firm ‘creates global powerhouse’
Posted on April 19, 2021 by Jonathan Symcox
Video tech platform Exterity has been acquired by worldwide leader VITEC.
Edinburgh-based Exterity provides video streaming, digital signage and user engagement technologies for sectors including venues, education and healthcare.
The move signals Paris-headquartered VITEC’s intention to accelerate growth and strengthen its leadership position, with natural technology and customer synergies between the two companies that will enable VITEC to extend its reach into new geographies, market verticals and partners.
Exterity’s robust IP video platform for both hardware and software has seen great success across Europe, the Middle East and Asia-Pacific.
The firms said the combined entity will be ‘the leading IPTV and digital signage provider for corporate, government, military, venues, hospitality and broadcast customers.
“In bringing together VITEC and Exterity, we will be able to offer a wider range of best-in-class products, solutions and services to our customers,” said Exterity CEO Colin Farquhar, who will remain a central part of the leadership team of the combined company.
“VITEC’s product portfolio, market strength, and company culture are the perfect fit for this next chapter in our IPTV growth, and I have complete confidence that we will be able to grow stronger together as more and more businesses deploy IP video streaming solutions across their enterprises.
“Exterity has established a large and loyal customer and partner base, with a number of organisations specifying solutions for global projects. Bringing together VITEC and Exterity enables us to take advantage of our combined technologies so that our customers will have a broader choice of market-leading IP video solutions to suit their needs.”
The combined engineering teams will develop a strategy to migrate the existing IPTV and Digital Signage portfolio into a converged platform to offer a wider range of solutions to customers.
VITEC will now have almost 200 engineers across their global development centres, which will immediately begin working together to leverage the software and hardware expertise of the embedded teams.