ChyronHego Announces Successful Recapitalization Led by Apollo Investment Corporation
January 06, 2021 at 16:20 PM EST
ChyronHego, a global leader in live video production and sports technologies, announced a recapitalization led by Apollo Investment Corporation (NASDAQ: AINV), which becomes the majority investor in the business.
The transaction provides ChyronHego with enhanced financial flexibility, allowing it to accelerate its investments in product innovation, customer success, and business growth.
“We are thrilled to partner with Apollo Investment Corporation in this next stage of ChyronHego’s success,” said Ariel Garcia, ChyronHego’s Chief Executive Officer. “Despite the challenges that COVID-19 brought to our industry, we were able to deliver a strong second half of 2020, including growing our product and engineering teams by 50% and increasing investment in our customer-centric capabilities. This recapitalization will allow us to accelerate investment in our next-gen, multi-application, live production video platform solution, and continue our market-leading innovation in sports technologies.”
Headquartered in Melville, Long Island, N.Y., and with offices in ten countries, ChyronHego is a recognized leader in live broadcast and sports analysis technologies, serving thousands of the world’s leading broadcasters, venues, production companies, sports leagues, and teams with its comprehensive product portfolio. Every day, broadcast and sports professionals utilize tools from ChyronHego to produce content that entertains and informs millions. ChyronHego’s innovative solutions drive content for on-the-air or over-the-top delivery to viewers everywhere.
About Apollo Investment Corporation
Apollo Investment Corporation (NASDAQ: AINV) is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company invests primarily in various forms of debt investments, including secured and unsecured debt, loan investments, and/or equity in private middle-market companies. The Company may also invest in the securities of public companies and structured products and other investments such as collateralized loan obligations and credit-linked notes. The Company seeks to provide private financing solutions for private companies that do not have access to the more traditional providers of credit. Apollo Investment Corporation is managed by Apollo Investment Management, L.P., an affiliate of Apollo Global Management, Inc., a leading global alternative investment manager. For more information, please visit www.apolloic.com.
ChyronHego is ushering in the next generation of live production and sports technologies. Founded in 1966 as Chyron, the company pioneered broadcast titling and graphics systems. With a strong foundation built on over 50 years of innovation and efficiency, the name Chyron is synonymous with broadcast graphics. ChyronHego continues that legacy as a global leader focused on live video production solutions, sports data and analytics.