Altech Multimedia acquires SetOne GmbH

Altech Multimedia acquires SetOne GmbH :

Altech Multimedia, part of the Allied Technologies Limited (Altech) group, today announced its acquisition of SetOne GmbH (“SetOne”), a German-based pioneer of innovative DVB-based products and solutions in the German-speaking Europe or DACH region.

SetOne was founded in 2005 and has since been positioned as one of the leading Original Equipment Manufacturer (OEM) companies in central Europe. Its strength as a preferred supplier is evidenced by its recent breakthrough into Spain, Italy and other neighbouring countries in Europe.

The company is an established leader in the Retail and Diagonal Distribution of DVB-based products, solutions and services intended for the European free-to-air (FTA) and Pay-TV markets. The product range includes satellite (DVB-S/S2), terrestrial (DVB-T/T2) and cable (DVB-C) solutions. SetOne has built strategic alliances with key role players in the value chain of its products and services offering throughout Asia and Europe, which include signed agreements with major licensors in the field of digital consumer electronics such as Sisvel, MPEG LA and Rovi. With a team of highly qualified and motivated employees, together with these strategic partnerships, the ability to innovate has become an integral part of the company’s strategy allowing them to be one step and one idea ahead.

The purchase of SetOne unlocks significant synergies with Altech Multimedia, one of the world’s leading providers of products, professional services and competitive software solutions to the digital Broadcast, Broadband and Telecommunications industries.

The acquisition will enhance Altech Multimedia’s reach into international markets and further entrench its relationships with international partners regarding product development and management in these markets as well as leveraging established distribution channels and exploiting and cross-selling other business opportunities associated with its Global Decoder Logistics (“GDL”) services.

“Engaging with SetOne will bring dynamism, entrepreneurial spirit and quality of service to our existing and future customers in Europe. SetOne’s location in the heart of Europe constitutes a good solid foundation for our strategy in Europe,” said Peter Balchin, CEO of Altech Multimedia.

“This acquisition complements Altech Multimedia’s broadband and broadcast product offerings to address convergence within the multimedia market and strengthens our service offerings,” added Balchin.

According to Bartolomeo Caputo, CEO of SetOne, the transaction brings together a range of synergies between the two companies that will be of enormous benefit to the European market.

“Our strategic partnership with a worldwide player such as Altech Multimedia will definitely help SetOne GmbH move to the next level. We are all very excited by the potential of know-how, experience and capabilities that Altech Multimedia will bring to SetOne,” said Caputo.