Betfair and Macrovision Announce Betfair's Acquisition of TVG Network.$50 Million Transaction Completed SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif. & LONDON -- BETFAIR Group Ltd, the premier e-gaming business, and Macrovision Solutions Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :MVSN MVSN Milizia Volontaria per la Sicurezza Nazionale (Italy) ), a digital entertainment technology leader, today announced that Betfair has completed its acquisition of the TV Games Network (TVG TVG TV Guide (magazine) TVG Televisión de Galicia TVG Tierversuchsgegner (German: Antivivisection) TVG Television Games Network TVG Toronto Venture Group TVG Tri Valley Growers TVG Time-Variable Gain ) from Macrovision for $50 million in cash consideration. TVG, the official TV and Interactive Wagering partner of the National Thoroughbred Racing Association The National Thoroughbred Racing Association (NTRA) is the main governing body of Thoroughbred horse racing in the United States. They are also the main governing body of the Breeders' Cup World Championships. (NTRA NTRA National Thoroughbred Racing Association NTRA National Telecommunication Regulatory Authority (Egypt) NTRA National Training Reform Agenda NTRA Nano Technology Research Association (Korea) ), is among the most widely-distributed horseracing networks in the world and is also a leading provider of advance deposit wagering services in the US. "The divestiture of the TVG Network marks another milestone in a set of objectives we set for ourselves when we acquired Gemstar-TV Guide in 2008, and helps to focus our company around the goal of powering a uniquely simple home entertainment experience," said Fred Amoroso Am`o`ro´so n. 1. A lover; a man enamored. adv. 1. (Mus.) In a soft, tender, amatory style. , President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Macrovision. Gerard Cunningham, President of Betfair US, said: "We are tremendously excited to be the new owners of TVG and look forward to building upon the worldwide experience of Betfair to help grow the business." "We believe TVG to be the premium product in the sector, with exceptional staff and loyal customers, and we look forward to working with the horseracing industry to help promote this great sport." David Yu, CEO of the Betfair Group Ltd, commented: "We have always been attracted by the operating strength of TVG together with its conservative and prudent regulatory approach. Its values are very much aligned with those of Betfair." "We have waited to enter the US market until we had a high quality, and above all, legal product offering, and we believe with this acquisition we have secured those goals." About Betfair Group Ltd Betfair is the premier e-gaming betting community, with horseracing as its core product. Betfair has twice been named the UK's 'Company of the Year' by the Confederation of British Industry The Confederation of British Industry is a not for profit organisation incorporated by Royal charter[1] which promotes the interests of its members, some 200,000 British businesses, a figure which includes some 80% of FTSE 100 companies and around 50% of FTSE 350 and remains the only betting company to win a Queen's Award for Enterprise The Queen's Award for Enterprise is an award for British companies and other organizations who excel at international trade, innovation or sustainable development. The prestigious award is the greatest accolade a British company can receive. , being recognised for Innovation in 2003 and most recently for International Trade in 2008, and one of only a handful to have won it twice. Betfair was named the 'Socially Responsible Operator of the Year' in October 2006, and won the top accolade, the 'Operator of the Year' Award, at the eGaming Review Industry Awards in 2007. The judges said that the company had "constantly pushed the boundaries in terms of what betting companies offer their customers." Betfair has signed 42 Memoranda Of Understanding (MoUs) with sporting bodies worldwide, the first of which was with the Jockey Club (now the British Horseracing Authority) in 2003. More information about Betfair can be found at http://corporate.betfair.com. About Macrovision Solutions Corporation Macrovision Solutions Corporation is focused on providing a uniquely simple digital home entertainment experience by delivering solutions to businesses to protect, enhance and distribute digital goods to consumers across multiple channels. Macrovision's technologies are deployed by companies in the entertainment, consumer electronics, cable and satellite, and online distribution markets to solve industry-specific challenges and bring greater value and a more robust user experience to their customers. The result of deploying Macrovision's solutions is a simple end user experience for discovering, managing and enjoying digital content. Today, Macrovision provides connected middleware, media recognition, interactive programming guides, copy protection and rich media, data and metadata on music, games, movies and television programming. The company also operates an entertainment portal which can be found at http://www.allmusic.com. Macrovision holds over 4,100 issued or pending patents and patent applications worldwide. Macrovision is headquartered in Santa Clara, California Santa Clara, California (IPA: /ˌsæntəˈklærə/) , founded in 1777 and incorporated in 1852, is a city in Santa Clara County, in the U.S. state of California. , with numerous offices across the United States and around the world including Japan, Hong Kong, Luxembourg, and the United Kingdom. More information about Macrovision can be found at www.macrovision.com. |
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