Viola Group, an Israeli tech-focused private equity firm, has acquired an additional 6.6 percent stake in RRsat Global Communications Network, which provides digital content management and global content distribution services to the broadcasting industry. Viola acquired the stake from Kardan Communications for a total investment of $9.4 million. Viola Group, following the investment, owns about 28.6 percent of RRsat’s shares.
RRsat Global Communications Network Ltd. (NASDAQ: RRST), a leading provider of digital content management and global content distribution services to the broadcasting industry, announced today that Viola Group, Israel’s premier technology private equity investment group with over $2 billion under management, increased its ownership stake in RRsat by acquiring an additional 6.6% interest from Kardan Communications Limited for a total investment of $9.4 million.
“The increased ownership position reflects a significant, ongoing vote of confidence by a leading private equity investment group,” commented Avi Cohen, RRsat’s Chief Executive Officer.
Following this transaction, Viola Group owns approximately 28.6% of RRsat’s shares. This latest acquisition by Viola Group follows its previously reported acquisitions during 2013 of 15% of RRsat’s shares from Kardan Communications and 7% of RRsat’s shares from David Rivel, RRsat’s founder, director and former Chief Executive Officer.
RRsat Global Communications Network Ltd. (NASDAQ: RRST) provides global, end-to-end, digital content preparation and management, as well as content distribution services to the rapidly expanding broadcasting industry, covering more than 150 countries. Through its Global Network, composed of satellite and terrestrial fiber optic capacity and the public Internet, RRsat provides high-quality and flexible global content distribution 24 by 7 services to more than 630 channels reaching multiplatform operators, Internet TV and direct-to-home viewers worldwide. In addition, the company offers worldwide content management and distribution services for sports, news and other live events. More than 130 channels use RRsat’s advanced production and playout centers, comprising of comprehensive media asset management services. Visit the company’s website www.rrsat.com.
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