TV / COM and the Digital Video Systems Division of Hyundai Electronics America
merge to combine forces
03/18/97
Business Wire
(Copyright (c) 1997, Business Wire)
NEW ORLEANS--(BUSINESS WIRE)--March 18, 1997--National Cable Television
Association--
The Merger Brings Together Digital Video Expertise
That Extends From Silicon to the Set-top Box.
TV / COM Will Continue to Build On Its Leadership Position
In the Worldwide Cable and Satellite Industries While
Pursuing Additional Opportunities in Emerging PC
and Interactive Markets.
TV / COM International Inc. Tuesday announced that the company has officially merged
with the Hyundai Digital Video Systems (HDVS) division of Hyundai Electronics
America (HEA).
The merger combines strengths and broad product offerings of the two organizations to
form an integrated operation capable of developing, manufacturing and selling end-to-end
digital video communications solutions.
TV / COM will continue to operate as a subsidiary of HEA at its existing headquarters in
San Diego, Calif. TV / COM is recognized as a leading provider of digital compression
systems, headend equipment, conditional access systems and scrambling/encryption
systems for subscription, pay-per-view and interactive entertainment over broadband
communications systems.
Since its acquisition by HEA in June of 1995, TV / COM has focused on building
end-to-end digital compression systems for cable, satellite, PC and telecommunications
customers worldwide.
"The merger provides us with a full standards-based end-to-end product offering in the
rapid global deployment of digital products, while better positioning the company for
future opportunities in emerging PC and interactive markets," said Bob Luff, president
and chief executive officer of TV / COM International.
"In addition, the merger creates a streamlined management team capable of developing,
selling, marketing and deploying interoperable cable and direct broadcast satellite (DBS)
systems and products that are packaged and priced for the mainstream consumer for a
variety of current and emerging interactive applications.
"During the last 12 months, we have been preparing for the aggressive deployment of
digital set-top boxes, and positioning ourselves as a world leader in the digital market.
Our success is demonstrated through strong customer commitments, including our
contract with NetHold to manufacture 60,000 CATV and DBS set-tops per month in
Europe and a commitment with AlphaStar for one million Integrated Receiver Decoders
(IRDs) for their digital Direct-to-Home entertainment system in Canada and the United
States."
The Merger Combines Technology Strengths and Executive Expertise
The TV / COM and HDVS merger brings together more than 400 employees with
technical strengths in developing broadcast quality, real-time MPEG-2 digital transmission
systems for a common customer base. From TV / COM comes a history of technology
expertise with broadband and satellite end-to-end systems, including satellite IRDs;
headend compression; QAM and QPSK modulators; and network management,
conditional access and encryption technology and software.
Combined with the major intellectual property in digital set-top technology from the
HDVS division, TV / COM now offers complete multiple set-top platforms that comply
with Digital Video Broadcasting (DVB) and Society for Cable Engineering (SCTE)
standards, and incorporate the powerful OpenTV application software environment.
The merger also brings together executive expertise. Luff, a recognized leader in the
telecommunications industry with more than 27 years of domestic and international
technical and management expertise, remains president. Reporting to Luff is H.T.
Chung, vice president of planning and coordination; Michael Stauffer, vice president of
corporate planning; Paolo Siccardo, acting general manager for consumer products
group; Gary Logston, chief technical officer; and Jeff Wallin, vice president of sales and
marketing.
Information about HEA and TV / COM
Hyundai Electronics Industries Co., Ltd. (HEI) was founded in 1983. Today, it is one of
the largest semiconductor memory manufacturers in the world. HEI's parent company is
Hyundai, Seoul, Korea, a $83 billion corporation involved in more than 40 business areas,
ranging from fabrication, petrochemicals, engineering and construction, to automobiles,
finance, insurance and securities.
Hyundai Electronics America (HEA), a subsidiary of HEI, combines many business
divisions that include computer systems, telecommunications products, systems ICs and
MPEG chips. HEA has headquarters at 3101 N. First St., San Jose, Calif. 95134.
Founded in 1973, TV / COM was acquired in 1995 by Hyundai Electronics America and
is a subsidiary of HEA. The company's products include digital compression systems,
headend equipment, conditional access systems, scrambling/encryption systems, digital
set-top boxes, near video-on-demand (NVOD) servers and software for subscription,
pay-per-view and interactive entertainment.
TV / COM is uniquely positioned in the direct broadcast satellite (DBS) industry to
provide all of the components needed for a true end-to-end solution from the silicon
technology to the set-top box. For more information about TV / COM or its products,
contact: Andrea La Vorgna at 17066 Goldentop Road, San Diego, Calif. 92127. Phone:
619/618-4813. Fax: 619/618-4864.
NOTE: All brands and/or product names are trademarks, or registered trademarks, or
their respective holders.
CONTACT: The Benjamin Group Kirsten Bollen, 714/245-7500 kbollen@oc.tbgi.com
13:56 EST MARCH 18, 1997
Contact: contact: Andrea La Vorgna at 17066 Goldentop Road, San Diego, Calif. 92127.
Phone: 619/618-4813. Fax: 619/618-4864.
NOTE: All brands and/or product names are trademarks, or registered trademarks, or
their respective holders.
CONTACT: The Benjamin Group Kirsten Bollen, 714/245-7500 kbollen@oc.tbgi.com
13:56 EST MARCH 18, 1997 |
