By
Telecom Lead Team: ClearOne announced
its agreement to acquire substantially all the assets of Israel-based VCON
Video Conferencing, a provider of end-to-end, software video conferencing
solutions, for $4.5 million.
Under
the terms of the agreement, ClearOne will pay $4.5 million in cash
and will not assume any debt or cash. The acquisition is expected to close by
the end of this quarter, subject to customary closing conditions, including
applicable regulatory and court approvals.
“The
acquisition of VCON will bring us a wealth of knowledge, technology and
experience in the growing video conferencing market to complement ClearOne’s
leadership in audio conferencing. VCON’s software-based technology opens the
gate to multipoint HD video conferencing for a broad spectrum of platforms,”
said Zee Hakimoglu, chairman and CEO of ClearOne.
VCON’s
portfolio of HD videoconferencing solutions comprises feature-rich room systems
and desktop video applications, as well as enhanced network management and
infrastructure solutions.
With
the acquisition of VCON, ClearOne will offer a complete suite of audio and
video conferencing and collaboration solutions.
“ClearOne
is an ideal match for VCON as it enhances the quality of video conferencing
with ClearOne’s HDConference audio processing technology and products.
Customers, channel partners and end-users will all benefit from the strengths
of these two world-class leaders as innovative technologies are brought to
market,” said Isaac Ben Ezra, CEO of VCON.
VCON
brings software-based full HD (1080p) video conferencing technology with H.264
High Profile encoding that reduces bandwidth utilization up to 50 percent.
VCON’s
software-based video endpoint solutions offers several features like, embedded
multipoint video conferencing, embedded SIP/H.323 bridging interoperability
with all leading standards-based hardware and software video conferencing
endpoints, built-in recording and streaming, built-in remote content and data
sharing and built-in interactive multicast.
