PITTSBURGH, June 17, 2016 (GLOBE NEWSWIRE) -- NEP Group Inc. ('NEP') announced today that it has entered into a definitive agreement to acquireBroadcast Solutions Group ("Broadcast Solutions"), the global provider of outside broadcast flypacks and leading broadcast services partner in the Pan Asian region. Jones Day represented NEP as lead M &A counsel, and financial terms were not disclosed. The transaction will bring Broadcast Solutions, headquartered in Singapore with offices in India, UAE and the UK, into NEP's Worldwide Network. Following this acquisition, NEP will have offices in 16 countries, as well as the ability to support productions across every continent.
Broadcast Solutions has been providing broadcast services for 16 years, covering broadcast projects for a range of high profile clients and events across a wide variety of sports including, cricket, golf, field hockey, football, tennis and kabaddi. Following the acquisition, Broadcast Solutions will operate as NEP Broadcast Solutions under the leadership of Saeed Izadi and will continue to be headquartered out of Singapore. The acquisition of Broadcast Solutions will make NEP a leading worldwide provider of outside broadcast flypacks.
"Broadcast Solutions has an exceptional reputation for service in the Asian and Indian markets, regions that remain key strategic priorities for NEP. This acquisition puts us in the leading position in these markets and enriches our global depth of resources, ensuring we have the best facilities and a highly experienced staff that can cover any project, anywhere in the world. The entire Broadcast Solutions team shares our commitment to superior client service and innovation, and I am very pleased to welcome Saeed Izadi and his team into the NEP Worldwide Network as we continue to expand our international broadcast services business." said Kevin Rabbitt, CEO, NEP Group.
"Becoming a part of the NEP Worldwide Network marks a milestone in our growth. I couldn't ask for a more closely aligned partner than NEP to bring immediate and significant value to our worldwide clients", said Saeed Izadi, CEO and founder, Broadcast Solutions Group. "I am confident that this transaction will add a great deal of flexibility to our operations and will provide our staff with enriching collaborative opportunities. We are excited to expand our service excellence to a wider reach with the increased support of a worldwide network and a broader pool of resources."
About NEP
NEP provides the technology and know-how to enable clients to produce the worlds' most prestigious live and broadcast events around the globe. The company is the leading worldwide provider of outsourced production solutions offering technical services for remote production, studio production, video display, host broadcasting, post production, smart asset / media management, multi-screen delivery and end-to-end OTT solutions. NEP's team of more than 2,000 employees are driven by passion and a focus on technical innovation, and together they have supported productions in over 65 countries on all seven continents. NEP is headquartered in the United States and has offices in 14 countries.
About Broadcast Solutions Group
Broadcast Solutions Group (BSG) is a market leader in broadcasting live, multi-venue, and pre-recorded events. BSG has built an outstanding industry reputation through the years of service, deploying state of the art technologies in outside broadcast and providing expertise in coverage of large-scale events. Today, BSG has a presence in Europe, Middle East, South Asia, and Indian sub-continent serving clients ranging from major television networks to world sports organizations with highest standards in broadcast quality. BSG is constantly in search for creative and innovative solutions to remain a preferred choice in outside broadcast industry.