Pico Digital is privately held while IDC is a public corporation, so approval by its shareholders will be required. Expected closing is in June.
A release explained, “Pico Digital and IDC have highly complementary product portfolios, and together will provide the industry’s leading solutions for data broadcasting, audio distribution, and digital cinema, as well as enjoying significantly increased scope as a video solutions provider.”
Pico Digital Chief Executive Officer Ian Lerner said, “IDC has been at the forefront of innovation in the satellite industry for many years … We are committed to building on our combined portfolio to create the most compelling and comprehensive offering for both current and new customers.”
President and CEO of IDC Doug Lowther said, “Combining forces with Pico Digital is great news for IDC’s customers, as they will immediately be offered a broader range of solutions, supported by an even stronger worldwide team.”