Ericsson (NASDAQ: ERIC) today announces its
intention to acquire FYI Television, the premier entertainment
metadata and rich media content supplier based in Grand Prairie,
Texas. The acquisition, which is subject to customary closing
conditions, will strengthen Ericsson's already industry-leading
position in broadcast and media services. FYI Television
accumulates and distributes TV entertainment content and linear
scheduling data from over 9,000 TV networks daily, aggregating the
information into customized formats for various digital, media,
content, analytics and print clients for use on their connected
devices such as tablets, phones, desktops, internet portals and
gaming consoles.
The growing range of TV and video services
available on a variety of devices creates a wide range of options
for viewers to choose between. Based on Ericsson's latest
ConsumerLab research, 50 percent of linear TV viewers say they
can't find good programming to watch on a daily basis -
highlighting the importance of content discovery. Combining FYI
Television's US-market expertise in metadata, conversion and
integration services with Ericsson's leading position in these
areas in Europe will create a powerful global force in content
discovery. Whether viewers are watching linear or on-demand video,
Ericsson will ensure they can discover content whenever - and
wherever - they search for it; and always in the right format.
Magnus Mandersson, Executive Vice President and
Head of Business Unit Global Services at Ericsson, says: "As the TV
industry evolves and viewing behavior changes, we believe that
high-quality, rich metadata will be a key component for a
personalized TV experience. Combined with our capabilities in TV
platforms and content discovery, we will be able to help our
customers to improve the video experience and identify new revenue
opportunities. FYI Television's expertise and customer base in the
US is a great complementary fit for Ericsson and will be an
integral part of our growth strategy. It will strengthen our
position as one of the leading providers of media services in the
world."
FYI Television's employees will join Business Line
Broadcast & Media Services, part of Ericsson's Business Unit
Global Services, with the acquisition expected to close in Q1
2016.
Earlier this year, Ericsson established a US
broadcast and media services hub based in Atlanta, Georgia. The
company currently provides closed captioning services to
broadcasters around the world from this hub, with plans to roll out
video description services over the coming months.
Every day, people on all continents watch
television programs prepared, managed and broadcast by more than
2,500 Ericsson staff based in Europe, the Middle East, Asia Pacific
and the US.
Ericsson is the largest provider of content
discovery services in Europe, delivering metadata, images, search
and recommendations on more than 3,000 TV channels in over 30
languages. Every year, Ericsson Broadcast and Media Services
distributes more than 2.7 million hours of programming in more than
90 languages for more than 500 TV channels worldwide. In addition,
we provide more than 200,000 hours of captioning each year - 80,000
hours of which is live.
NOTES TO EDITORS
Ericsson Broadcast & Media Services
About FYI Television
FYI Television, Inc. (FYI), the TV metadata and
entertainment image content expert, accumulates and distributes TV
entertainment content and linear scheduling data from more than
9,000 TV networks daily, aggregating the information into
customized formats for various digital, media, content, analytics
and print clients for use on their connect devices such as tablets,
phones, desktops, internet portals and gaming consoles. FYI's
state-of-the-art databases contains more than 2.8 million cast and
crew related entities, 1.5 million images directly relating to
specific program titles, celebrities and stations, including logos,
seasonal key art, movie posters and iconic stills. Through the vast
array of applications hundreds of millions of consumers engage with
FYI's content daily. FYI content discovery platforms deliver more
than 11.5 million words to electronic program guides, websites and
connected devices every week.
For media kits, backgrounders and high-resolution
photos, please visit www.ericsson.com/press
Ericsson is the driving force
behind the Networked Society - a world leader in communications
technology and services. Our long-term relationships with every
major telecom operator in the world allow people, business and
society to fulfill their potential and create a more sustainable
future.
Our services, software and
infrastructure - especially in mobility, broadband and the
cloud - are enabling the telecom industry and
other sectors to do better business, increase efficiency, improve
the user experience and capture new opportunities.
With approximately 115,000
professionals and customers in 180 countries, we combine global scale with technology and services
leadership. We support networks that connect more than 2.5 billion
subscribers. Forty percent of the world's mobile traffic is carried
over Ericsson networks. And our investments in research and
development ensure that our solutions - and our customers - stay in
front.
Founded in 1876, Ericsson has its
headquarters in Stockholm, Sweden. Net sales in 2014 were SEK 228.0
billion (USD 33.1 billion). Ericsson is listed on NASDAQ OMX stock
exchange in Stockholm and the NASDAQ in New York.
www.ericsson.com
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FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Communications
Phone: +46 10 719 69 92
E-mail: media.relations@ericsson.com
Ericsson Investor Relations
Phone: +46 10 719 00 00
E-mail: investor.relations@ericsson.com
Ericsson announces intention to
acquire FYI Television
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Ericsson via Globenewswire
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