Polycom Buys Video Content Management Provider
Unified communications services specialist Polycom announced the acquisition of Accordent Technologies, a provider of video content management and delivery solutions, for approximately $50 million in cash. Polycom said it expects this acquisition to be neutral to earnings in 2011 and slightly accretive to earnings in 2012.
Accordent grew to $9 million in revenues in 2010 and has more than 1,200 customers in the enterprise and public sector, and through select service providers. The staff of 50 employees will remain in southern California and will report into Polycom's UC research and development organization. Polycom said in a statement that Accordent's software-centric solution would become an integral element of the Polycom UC Intelligent Core and would be reported with Polycom's Network Infrastructure revenues.
"Polycom is committed to delivering an innovative, flexible and world-class video communications solution to customers over the entire content lifecycle – from real-time to capture, to management, to delivery," said Sudhakar Ramakrishna, Polycom chief development officer. "We believe Accordent has the most elegant video content management solution on the market and by leveraging customer, channel, partner and product synergies with Polycom, this transaction positions Polycom at the forefront of end-to-end video and content management. We welcome Accordent's customers and employees to the Polycom team."
For more, read the eWEEK article: Polycom Acquires Accordent Technologies for $50 Million