We told you back in September 2013 that Wegener Corporation (OTC Pink: WGNR), a provider of products for television, audio and data distribution networks worldwide had announced that the Board of Directors has unanimously approved a Term Sheet for the acquisition of Wegener Corporation by a soon to be announced public company.
Troy Woodbury, President and CEO of Wegener Corporation said at the time “There are real synergies with the company acquiring Wegener and with another company currently under negotiations to be added to the group.
That ‘soon to be announced public company’ turns out to be Novra Technologies, Inc. (TSX Venture Exchange: NVI.V), a provider of premium products and solutions to the datacasting, digital signage and IP-TV markets.
Novra Technologies has signed term sheets, not only with Wegener Corporation but also with Westport Research Associates for Novra to acquire both of these companies. The transaction is of course subject to Novra’s due diligence and the final approval of Wegener Corporation shareholders.
Harris Liontas, President and CEO of Novra Technologies, Inc. said “The product portfolio of the combined companies will provide a powerful suite of capabilities for large-scale networks in radio broadcasting, business music, broadcast video, digital signage and IP-TV,”.
He continued “Wegener Corporation and Westport Research Associates, Inc. are not just simple acquisitions but a merger allowing for the creation of a solutions-based provider that will offer clients a broader scope of services and deeper access to industry expertise..
Both acquisitions are expected to be completed in the first or second quarter of 2014.
About Novra Technologies Inc.
Novra Technologies offers premium products and solutions to the datacasting and digital signage markets. Novra specializes in the transmission and reception of IP traffic over satellite, cable and terrestrial communication links. Products offered include broadband receivers for DVB-S, DVB-S2, DVB-C, and ATSC systems. Novra’s IPE encapsulator products can be used in both DVB and ATSC MPEG2 systems for datacasting as well as broadband access applications. The NovraLink digital signage solution integrates Novra’s technologies into a comprehensive multimedia management and distribution system.