MUMBAI: American firm OpenTV which provides technologies and services that enable advanced digital television has announced that it has acquired the cable TV advertising inventory management assets of CAM Systems and affiliates for $19.5 million.
OpenTV states that the deal strengthens its posituion in providing technology and services to cable television operators that are central to managing their local cable TV advertising businesses. The transaction also significantly advances OpenTV's ability to provide interactive, addressable and on-demand advertising services as these markets grow.
OpenTV chairman and CEO Jim Chiddix says, "Adding Cam Systems and its customer base to our existing AdVision inventory management portfolio puts us at the heart of the estimated $5 billion local cable advertising market. We are immediately adding Time Warner Cable, Cox, Bright House Networks and Charter's advertising sales divisions as new customers, and are extending our existing relationship with Comcast Spotlight.
"Moreover, we are acquiring a profitable business in a fast-growing market, with great relationships and innovative systems that provide the critical technologies for this market.
"This transaction is also an important stepping stone toward the provisioning of a complete interactive advertising solution. Interactive, addressable and on-demand advertising will require the ability to manage inventory, track, schedule and invoice the advertisements in order to scale to its full potential. The combination of CAM, our AdVision portfolio and our enhanced advertising technologies gives us the most complete capabilities in the industry."
Cam Systems provides a broad range of media-management services to the cable and broadcasting industries. OpenTV claims to be deployed in
over 58 million digital set-top-boxes in 96 countries. The company's software enables a write once, run anywhere environment for applications including enhanced television, interactive shopping, interactive and addressable advertising, games and gaming, personal video recording, and a variety of consumer care and communication applications.
