Enghouse Systems, a provider of enterprise software solutions serving a variety of vertical markets, agreed to acquire Espial Group by way of a statutory plan of arrangement under the Canada Business Corporations Act. Under the arrangement, each Espial shareholder will receive cash consideration of C$1.57 for each Espial share, valuing Espial’s total equity at approximately C$56.5 million.
Espial, which is based in Ottawa, is a supplier of digital TV, IPTV middleware, and other solutions for helping service providers manage, deliver and monetize video and entertainment services.
On February 28, Espial reported fourth-quarter revenue was $6,667,208 compared with revenue of $10,157,477 in the same period a year ago. Fourth quarter software license revenue was $2,428,087 compared to $6,081,188 in the fourth quarter of fiscal 2017. Software subscription revenue increased to $1,870,631 from $1,032,115 in the fourth quarter of 2017.
