Siemens To Acquire Myrio
Myrio has agreed to be acquired by Siemens Communications to provide Myrio’s customers with additional engineering and operational support…
…and its partners with additional marketing and sales support, which will increase their ability to meet growing global demand and response to customer growth within the IP video market.
Under terms of the agreement, Myrio will operate as a wholly-owned subsidiary of Siemens. The digital home entertainment market is growing rapidly as consumers continue to gain unprecedented choice over the way they are entertained, communicate, find information, and receive new services. The telecommunications industry is focused on capitalizing on this market growth to enhance revenues and brand quality by providing consumers with the newest applications and services available. According to a recent report from Forrester Research, the digital home will combine two networks from one pipe. Myrio has been focused on the opportunity for service providers to excel in the market, and its merger with Siemens, gives these providers the platform needed to truly transform the television into an entertainment and communications portal in the home. The Myrio IP Video Platform is the central component for digital home entertainment, providing the ability for service providers to provision content and services directly from the network into the homes.
The Myrio IP Video Platform will continue to be sold directly to customers and through channel partnerships. In addition, Siemens will continue to bundle the Myrio IP Video Platform with its SURPASS Home Entertainment, the Next Generation Access platform for the delivery of voice, data and broadband data services. Within the newly formed subsidiary, the Myrio IP Video Platform will continue to be fully interoperable and scaleable, and hardware and operating system agnostic. The software will maintain customer choice in STB, VOD server, and other components to fit their unique business requirements.
“Myrio Corporation has a strong market position, with substantial brand equity and a significant customer and partner base,” said Christian Unterberger, Head of Fixed Networks at the Siemens Communications Division of Siemens AG. “Siemens looks forward to working with the Myrio team to continue the tradition of offering broadband service providers the best IP video solutions to drive additional revenue streams.”
Myrio and Siemens AG’s history through their OEM partnership was forged in the fourth quarter of 2004 and has proven successful with major wins in Europe and Asia. This acquisition will enable Myrio to build upon this existing partnership and broaden its customer base through increased support and global reach.
“Siemens’ reputation as one of the leading players in the global telecommunications industry, combined with its exceptional client service is the ideal complement to Myrio’s business,” said Chris Coles, president and CEO of Myrio. “The acquisition will enhance Myrio’s current relationships with our 65 plus customers and partners by providing them with the expertise and leadership that Siemens exhibits.”
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