Miranda Technologies, a Canadian provider of infrastructure, playout and monitoring systems for the cable, satellite and IPTV broadcast industries, has acquired IT-based media management and delivery solutions provider OmniBus Systems from Palamon Capital Partners for $47.1 million in cash, Miranda announced Sept. 9.
    The all-cash purchase will be financed equally between Miranda’s $49.1 million cash on hand and an existing credit facility. OmniBus has a net cash position of $6.48 million. The transaction is expected to be accretive to Miranda’s earnings within the first full year of operation, and should generate product and distribution synergies, the company said.
    OmniBus Systems, based in Loughborough, has an extensive broadcast customer base, which includes ABC, Ascent Media, Astro, AT&T, BBC, Chellomedia, Corus, Direct TV, Discovery, E!, FOX, SkyPerfect TV, Starz, and Turner. Miranda said that the media management and delivery market segment will grow by a compound annual growth rate of approximately 24 percent over the next 2 years.
    “The addition of OmniBus, and specifically iTX, allows Miranda to uniquely offer the complete range of playout solutions, from traditional hardware to a fully software-based environment. We are now exceptionally positioned to help our customers transition to more efficient operations, by offering the best fit of hardware and software products to suit their individual requirements,” Miranda President and CEO Strath Goodship said in a statement.
    “By joining Miranda, we will see real product synergies, and gain more extensive worldwide sales and support, creating new opportunities to increase our share of the expanding markets we serve. Importantly, the fit with Miranda is excellent, and the OmniBus team is really excited by the clear potential for our combined businesses,” OmniBus Systems CEO Mike Oldham added.