SINGAPORE/HONG KONG, 5 June 2008 - Content management and delivery company GlobeCast and Pacific Century Group have reached a conditional agreement for the acquisition by GlobeCast Asia of Hong Kong-based broadcast services company Pacific Century Matrix (HK) Limited (PCM).
When the transaction is complete, PCM will be renamed GlobeCast Hong Kong - GlobeCast's fifth office in Asia and 18th office worldwide. The acquisition will give PCM clients access to the worldwide reach of GlobeCast, a full subsidiary of France Telecom, while retaining PCM's expertise and personnel.
GlobeCast and PCM's international roster of clients will benefit from the companies' combined resources, including two major technical hubs in Singapore and Hong Kong. The Hong Kong teleport and MCR facility will also be interconnected with GlobeCast's 12 other teleports and technical operations centres around the world, as well as with the company's extensive satellite and fibre content distribution network. The result will be an increased capacity to offer worldwide solutions for broadcasters coming to and from Asia.
GlobeCast Asia CEO, David Justin, said: "The addition of PCM to the Group will serve to dramatically increase the growth that GlobeCast has already been seeing in Asia for the past few years. PCM comes to us with a strong reputation and invaluable expertise, not to mention a service offering and culture that is very compatible with our own."
Guenter Kring, PCM CEO added: "PCM is delighted to join the GlobeCast Group. We see a huge potential for developing new and beneficial services for our combined client base, while continuing to offer the same high-quality of service that our respective customers have come to expect."
This 100% acquisition of PCM, founded in 1999, confirms GlobeCast's continued commitment to the Asian broadcast market. In the past five years alone, GlobeCast has made significant investment in Asia, adding three new offices (Beijing, Seoul and now Hong Kong) to its portfolio, creating important partnerships to expand facilities and services, and increasing its fibre interconnection and satellite capacity in the region.
Neither the terms of the agreement nor the transaction amount were disclosed.
GlobeCast contacts:
Matthew Rosenstein, GlobeCast
matthew.rosenstein@globecast.com +33 1 5595 2720
Tracey Milham, ING MEDIA
tracey@ing-media.com +44 207 392 1992
Vanessa Ching, GlobeCast (Singapore)
vanessa.ching@globecast.com +65 6325 4222
Pacific Century Group contacts:
Tim Payne, Brunswick Group
tpayne@brunswickgroup.com +852 3512 5066
Karin Wong, Brunswick Group
kwong@brunswickgroup.com +852 3512 5077
GlobeCast (www.globecast.com): a subsidiary of France Telecom, is the leading global provider of content management and worldwide transmission services for professional broadcast delivery. The company operates a secure global satellite and fibre network to manage and transport 10 million hours of video and other rich media each year, providing ingest, aggregation, transmission and repurposing of content for delivery to direct-to-home satellite platforms; cable, IPTV, mobile and broadband headends; as well as corporate and digital signage networks. GlobeCast's fleet of SNG trucks deploys globally to support coverage of the biggest news and sporting events each year in SD and HDTV formats. Borders are non-existent when it comes to GlobeCast's services, thanks to the company's 12 teleports and technical operations centres as well as its 18 offices in Europe, North and Latin America, the Middle East, Asia, Africa and Australia.
Pacific Century Group (PCG) was established in 1993 and is privately owned by its founder Richard Li who is also its Chairman and Chief Executive. PCG has interests in infrastructure, property, satellite communications, media and telecommunications and other investments in the Asia Pacific region, including Singapore, Hong Kong and Japan.
Pacific Century Matrix (PCM) is one of the leading broadcast service providers in the Asia Pacific region. With its large portfolio of premium services in SD & HD, PCM has become partner of choice for broadcasters like Bloomberg, Al Jazeera, Eurosport, TV 5, Deutsche Welle, and many others.
Press Contact:
Tracey Milham, email: tracey@ing-media.com, Tel: +44 207 392 1992