Access Integrated
Technologies to Acquire FiberSat Global Services
(20 October 2004) Access
Integrated Technologies, Inc. has signed a definitive agreement to acquire
certain assets of privately held FiberSat Global Services, LLC. The acquisition
is expected to close on or before November 15, 2004 and is subject to customary
closing conditions. Further details were not disclosed.
Through the acquisition of FiberSat, AccessIT will gain extensive satellite
distribution and networking capabilities provided by FiberSat's fully
operational data storage and uplink facility located in Los Angeles,
California. In addition to providing broadband video, data and Internet
transmission and encryption services for multiple customers in the broadcast
and cable television and communications industries, FiberSat's Los Angeles
facility currently houses the infrastructure operations of AccessIT's digital
cinema satellite delivery service.
FiberSat Global Services' solutions
range from implementing satellite network start-ups or technology transitions,
to originating video networks. It provides complete booking and scheduling
solutions for transmission services, and operates an outsourced Networks
Operations Center. FiberSat employs a unique mix of broadband infrastructure,
skilled personnel, systems integration facilities and information technology,
all powered by the software platform called the Vortex Solutions Engine.
FiberSat's personnel will join AccessIT, including President and Chief
Executive Officer, Ravi Patel and Director of Operations and Engineering, B.
Scott Cassell.
"Joining with the leading technology services provider
to the digital cinema industry is a very exciting opportunity for FiberSat. We
anticipate playing a critical role in AccessIT's unique digital cinema delivery
platform," said Patel.
"Not only do we expect this acquisition to be
accretive, adding to our revenue and EBITDA performance, it will be of
strategic significance as well. FiberSat's extensive satellite-based content
distribution expertise, global service capability, and proximity to our motion
picture studio customers makes it an ideal addition to AccessIT," commented Bud
Mayo, Chief Executive Officer of AccessIT. "Having had the benefit of working
closely with FiberSat for the past few months, I am confident that they have
the right combination of systems know-how and management talent to augment our
growing digital cinema content distribution business," added Mayo.
Access Integrated Technologies, Inc. (AccessIT) is an early mover in offering a
fully managed storage and delivery service for owners and distributors of
digital content to movie theatres and other venues. Supported by its robust
platform of fail-safe Internet data centres, AccessIT is able to leverage the
market-leading role of its Hollywood Software subsidiary with the innovative
digital delivery capabilities of its Digital Media unit to provide the highest
level of technology available to service the emerging digital cinema
industry.
(source: Access Integrated Technologies)
