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TMCNet:  Espial Group acquires 100% stake in ANT

[February 06, 2013]

Espial Group acquires 100% stake in ANT

Feb 06, 2013 (Datamonitor Financial Deals Tracker via COMTEX) -- Espial (UK) Limited, a wholly-owned subsidiary of Espial Group, Inc., has acquired all of the outstanding shares of ANT plc, a UK-based company engaged in the developing and marketing of software solutions for the digital television (TV)-related consumer electronics market, for approximately GBP4.98 million.


Espial Group is a Canada-based provider of on-demand TV software and solutions.

Update on January 11, 2013: The shareholders of ANT have approved the proposed acquisition of all of the outstanding shares of ANT by Espial (UK). The transaction is valued at approximately GBP4.98 million.

Announcement (November 30, 2012): Espial (UK) has entered into a co-operation agreement to acquire all of the outstanding shares of ANT at a price of GBP0.205 per share in cash. The transaction is valued at approximately GBP4.98 million.

The offer price represents a premium of approximately 9.3% to the closing price of GBP0.1875 per ANT share on November 29, 2012, and a 5.7% to the average closing price of GBP0.1939 per ANT share over the three month period ended November 29, 2012.

Espial will fund the acquisition from its existing cash resources.

Allenby Capital Limited is acting as a financial advisor to Espial, while Westhouse Securities Limited is acting as a financial advisor to ANT.

The transaction is expected to close in first quarter of 2013.

Deal Value (US$ Million) 7.96 Deal Type Acquisition Sub-Category 100% Acquisition Deal Status Completed: 2013-02-04 Deal Participants Target (Company) ANT plc Acquirer (Company) Espial (UK) Limited Deal Rationale The acquisition will allow Espial to increase its scale and resources to deliver HTML5 user experiences and integrated clients across set-top boxes and multi-screen devices.

It will also provide Espial to expand its customer footprint in Europe, North America and Asia including major TV operators, set-top box manufacturers and Smart TV manufacturers.

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