SES Platform Services and RR Media are MX1
[Via Satellite 07-06-2016] SES has completed the merger of RR Media with its subsidiary, SES Platform Services to form MX1. The combined global media services company leverages the capabilities and infrastructure of both to offer a full suite of digital video and media services.
MX1 will distribute more than 1,000 TV channels, manage the playout of 440 channels and deliver syndicated content to more than 120 subscription Video on Demand (VOD) platforms. The new company has 16 offices worldwide and operates six media centers.
MX1 provides content management and distribution services delivered over satellite, fiber and the internet. Avi Cohen, previously CEO of RR Media, will lead MX1. Together with HD Plus, another SES subsidiary responsible for the HD platform in Germany, MX1 will be part of the SES Media Solutions under the leadership of Wilfried Urner.
SES acquired RR Media for $13.291 per share, leading to an enterprise value of $242.2 million. Trading in RR Media’s ordinary shares on the Nasdaq Stock Exchange halted at the start of trading on Wednesday, July 6, 2016 and will be suspended as of the close of trading on that same day.