Espial Announces Acquisition of Bluestreak Technologies

OTTAWA, Ontario — June 23, 2015 —Espial today announced the acquisition of Bluestreak Technologies, a software and services provider of video solutions for connected devices including set-top boxes, smart TVs, smartphones, and tablets.

OTTAWA, Ontario — June 23, 2015 — Transforming the viewing experience worldwide, Espial today announced the acquisition of Bluestreak Technologies, a software and services provider of video solutions for connected devices including set-top boxes, smart TVs, smartphones, and tablets. With highly talented teams based in Montreal and Paris, Bluestreak strengthens Espial’s expertise in advanced video technologies, software development and integration. Terms and conditions of the acquisition were not disclosed.

 

“Bluestreak brings software expertise and experience integrating leading over-the-top services. These capabilities will enhance Espial’s RDK and HTML5 solutions which also blend linear television with web-based video services,” said Jaison Dolvane, Espial President and CEO.  “Bluestreak’s MachBlue™ product line is complimentary to Espial’s G4 Client solution, providing rich media services across operator set-top box platforms, smart TVs and multi-screen devices. We will work closely with Bluestreak customers on enhanced solutions and services which give them a competitive advantage.”

 

“We’re excited to join Espial, whose focus on enabling compelling viewing experiences for network operators and consumer devices is consistent with our own,” said Erick Lamarche, CEO, Bluestreak. “With customers ranging from leading Pay TV operators to major electronics brands worldwide, Espial brings scale, solutions, and global services which will benefit Bluestreak’s customers now and in the future.”

 

The transaction includes the purchase of Bluestreak Technologies SAS, based in Paris and the operating assets in Montreal.

# # #

 

About Espial (www.espial.com)

With Espial, video service providers create responsive and engaging subscriber viewing experiences incorporating intuitive content discovery and instinctive navigation.  Service providers achieve ‘Web-speed’ innovation with Espial’s flexible, open software leveraging RDK and HTML5 technologies.  This provides competitive advantage through an immersive and personalized user experience, seamlessly blending advanced TV services with OTT content.  With customers spanning six continents, Espial is headquartered in Ottawa, Canada, has R&D centers in Silicon Valley and the UK, and sales/support offices in the U.S., Europe and Asia.  For more information, visit www.espial.com.

 

 

Forward Looking Statement

 

This press release contains information that is forward looking information with respect to Espial within the meaning of Section 138.4(9) of the Ontario Securities Act (forward looking statements) and other applicable securities laws. In some cases, forward-looking information can be identified by the use of terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or the negative of these terms or other similar expressions concerning matters that are not historical facts. In particular, statements or assumptions about, the acquisition of Bluestreak Technologies, anticipated synergies of such acquisition, economic conditions, benefits of new customer and partner relationships, future opportunities for the company and products and any other statements regarding Espial’s objectives (and strategies to achieve such objectives), future expectations, beliefs, goals or prospects are or involve forward-looking information.

 

Forward-looking information is based on certain factors and assumptions. While the company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking information, by its nature necessarily involves known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those in the forward-looking statements or could cause our current objectives and strategies to change, including but not limited to changing conditions and other risks associated with the on-demand TV software industry and the market segments in which Espial operates, competition, Espial’s ability to effectively develop its distribution channels and generate increased demand for its products, economic conditions, technological change,  unanticipated changes in our costs, regulatory changes, litigation, the emergence of new opportunities, many of which are beyond our control and current expectation or knowledge.

 

Additional risks and uncertainties affecting Espial can be found in Management’s Discussion and Analysis of Results of Operations and Financial Condition and its Annual Information Form for the fiscal years ended December 31, 2013 and 2014 filed on SEDAR at www.sedar.com. If any of these risks or uncertainties were to materialize, or if the factors and assumptions underlying the forward-looking information were to prove incorrect, actual results could vary materially from those that are expressed or implied by the forward-looking information contained herein and our current objectives or strategies may change. Espial assumes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.