Ross Video, a video production switcher and infrastructure provider, has agreed to acquire the assets of Canada-based Norpak from its parent company Rovi. Norpak makes Nielsen encoders, closed-caption inserters and other data insertion products, and has been a member of the Ross OpenGear Alliance for the past three years.
Ross Video CEO David Ross said the acquisition of Norpak would be a significant benefit to the company's OpenGear and other product lines.
This is the second company that Ross has purchased in 2010. In July Ross announced that it entered into a letter of intent to buy Australian-based Codan Broadcast, a provider of infrastructure and signal processing products.
This is the third Ross acquisition in the past two years. In 2009, Ross purchased Dutch graphics firm Media Refinery. The Netherlands based company is the developer of XPression, a high-end, feature-rich, 2D/3D high definition character generator and motion graphics system. Ross said that all acquisitions were accomplished without the need for external financing, other than the use of a standard bank facility.
In related news, Ross has created an Employee Stock Ownership Plan and that it now has 71 new employee shareholders. All Ross employees around the globe have the opportunity to buy stock.