Silverwood Partners Advises Jupiter Systems in the Sale of Teranex Systems Inc. to Blackmagic DesignSHERBORN, MA – December 7, 2011
Silverwood Partners announced today that Teranex Systems Inc. ("Teranex"), a leading manufacturer of high performance video processing products for the post production and broadcast industries, has been acquired by Blackmagic Design, a provider of video processing and distribution technology, from Jupiter Systems (“Jupiter”), a developer of display wall processors. Teranex, headquartered in Orlando, Florida, is now a wholly owned subsidiary of Blackmagic Design. Silverwood Partners initiated this transaction and was the exclusive financial advisor to Jupiter Systems.
“Teranex is a strategic acquisition for Blackmagic Design,” said Grant Petty, Blackmagic Design CEO. “Its technology, solutions and market complement our own efforts and its high quality video processing technology enables us to provide our customers with even higher levels of video quality -- extending Blackmagic Design’s product range for the broadcast, feature film and high end post production markets.”
“This is an exciting milestone for our company,” said Mike Poirier, General Manager of Teranex. “We are extremely happy to be part of the Blackmagic Design team. Blackmagic Design’s global reach, leading edge technologies, widely recognized brand name, strong systems and networking expertise and worldwide customer relationships make it an ideal partner for Teranex.”
Teranex will continue to support its customers and expand its sales channels with the added strength of the Blackmagic Design organization. Teranex will also continue its long tradition of developing superlative video processing platforms based on its patented SIMD architecture.
About Teranex Systems Inc.:
Teranex Systems Inc. provides high performance video processing solutions to the broadcast and post-production industries. Teranex’s products perform format and frame rate conversion, video noise reduction, film restoration, and pre/post compression conditioning. Teranex was formed in 1998, as a spin-off from Lockheed Martin, which invested over $100 million developing Teranex’s array processing technology for real time video processing. Teranex has used this core technology to create award winning products that provide key functionality and are reprogrammable, offering future proof solutions for the broadcast industry´s changing needs. Teranex is headquartered in Orlando, Florida. For more information, please visit www.teranex.com.
About Blackmagic Design:
Blackmagic Design provides video editing products, color correctors, video converters, video monitoring, routers, live production switchers, disk recorders, waveform monitors and film restoration software to the feature film, post production and television broadcast industries. Founded by experienced post production editors and engineers nearly 10 years ago, Blackmagic Design is based in Australia and has offices in the USA, UK, Japan, and Singapore. The company sells its products through resellers in the United States and internationally. For more information, please visit www.blackmagic-design.com.
About Jupiter Systems:
Jupiter Systems designs, manufactures, and sells display wall processors that are used in network operation centers, electric power generation and distribution control rooms, boardroom and business presentation rooms, atrium displays, intelligent traffic control rooms, dispatch and financial management control centers, surveillance and security centers, and fixed and mobile military operations control centers. The company sells its products in the United States and internationally via a network of resellers. Jupiter Systems was founded in 1982 and is based in Hayward, California. For more information, please visit www.jupiter.com/.
About Silverwood Partners:
Silverwood Partners is a specialized investment bank that provides merger & acquisition advisory services, private capital financing capabilities, and financial and strategic advisory services to information technology, communications technology, consumer products, business services and healthcare companies. For more information, please visit www.silverwoodpartners.com.
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