Evertz announced today in a security filing it has acquired a “direct to consumer (DTC) interactive graphics company based in Bergen, Norway.” The acquisition includes the target company’s interactive graphic overlays platform, expertise, and patents.
That is roughly the entirety of the filing. The 69-word filing does not identify the acquisition target by name nor does it provide any financial disclosure.
The disclosure threshold of materiality is 5% of revenue, meaning this acquisition target has less than $20 million USD.
One technology supplier aligning with the three known data points of (i) based in Bergen, (ii) DTC interactive graphics, and (iii) less than $20 million USD revenue is Sixty. We have no confirmation this acquisition is in fact Sixty, rather Sixty fits the fact pattern.
Sixty’s membership profile on the Norwegian Media Cluster website reads:
Sixty delivers interactive TV graphics and design services to media companies worldwide. Their cloud graphics platform, Ease Live, enables TV to become interactive and personalized – all in the hands of the end users. Sixty enable the industry to deliver innovative TV solutions which creates new revenue opportunities and increases audience engagement.
Sixty’s last regulatory filing in 2018 lists annual sales at just below $2.5 million USD. The Company raised NOK 26 million (USD $3.1 million) in July 2017. Sixty’s website cites 32 ‘TV design and tech specialists.’
We hope to learn more about the acquisition in future disclosures from Evertz and will update the post accordingly when further details are available.
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