IPTV software firm Espial acquires rival Kasenna for USD6.5m

Wed Jul 2 2008, 14:11 PM

Ottawa-based IPTV software firm Espial is in the process of acquiring Silicon Valley-based rival Kasenna in a deal worth USD6.5m. Espial will buy Kasenna with 33.6% of its issued and outstanding shares trading at USD1.40.  Pending regulatory approvals, Espial expects the deal to close by Jul 9. Under the terms of the agreement, none of Kasenna's shareholders will hold more than 10% of Espial's common shares. 

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