Canada’s Enghouse grabs Vidyo in $40M deal

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Ontario, Canada-based Enghouse Systems Ltd. has acquired Vidyo for approximately $40 million.

According to Enghouse, which announced the deal on Wednesday, the Hackensack-based provider of video software solutions has an annual revenue of about $60 million.

Vidyo’s products, delivered in the cloud, on-premise or as a hybrid solution, support visual communications across varied end-points, networks of varying bandwidth and geographically dispersed locations. With a focus on vertical markets including health care and finance, the company also offers a broad API framework allowing developers to embed video into third-party applications, workflows, and across a range of devices.

Vidyo is in use in approximately 400 hospital networks and about 120 financial institutions, Enghouse said.

“Vidyo’s suite of real-time video collaboration solutions extends our enterprise product offering into media and content and is complementary with Enghouse’s portfolio across all our business sectors,” said Steve Sadler, chairman and chief executive officer of Enghouse in a press release.

“We are very pleased to welcome Vidyo’s customers, employees and partners to the Enghouse organization,” he added.