GoldPocket Bought By Tandberg For $78.5 Million

GoldPocket, the LA-based iTV technology company, has been bought out by Norwegian TV technology company Tandberg Television, for $78.5 million mixture of shares and cash.

GP is based in Los Angeles and employs 85 staff…the company will have an estimated $12 million in revenue for 2005..Revenues for the 9 months to 30 September 2005 were $7.9m, on which a gross margin of 77% was delivered, the company said.

This acquisition adds iTV to Tandberg’s portfolio, which has mainly been on compression decoders, VOD hardware and software side. Earlier this year it bought out N2 Broadband of $120 million. Tandberg says it can now provide network operators with digital TV solutions including HDTV, VOD, advertising on-demand, IPTV, and interactive TV applications.

Tandberg has also taken minority positions in GoldPocket Wireless and Mixed Signals, two separate companies operating under the GP umbrella, as part of the deal…it will own own approximately 49% of GoldPocket Wireless and 43% of Mixed Signals.

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