Vecima Nabs Concurrent CDN Biz for $29M
Concurrent is a US-based software and solutions company that provides breakthrough technologies in the storage, protection, transformation and delivery of video assets. The company is a leader in the Video on Demand (VoD) and IP Video Content Delivery space, and supplies its technologies to many of the same Tier One Cable MSOs that Vecima services.
The business combination will support and accelerate Vecima’s ability to respond to the sea change occurring in the world of video. The generation, delivery and consumption of video are fundamentally shifting to IP-driven technologies and multiscreen services that empower consumers with choice. Vecima’s strategic vision has led the company to a transaction that ideally positions it to deliver and, in turn, capitalize on this global phenomenon. Vecima’s organic development of gigabit internet access platforms, together with Concurrent’s industry-leading IPTV delivery platforms unlock numerous synergistic opportunities in the evolving IP video space. The two companies together are also aligned to serve a global footprint including the Americas, Europe and Asia.
“As global IP traffic surges and broadband speeds accelerate, the rise in video-based services like on-demand IP video and streaming is increasing exponentially,” said Sumit Kumar, President and CEO of Vecima. “Concurrent’s video delivery system dovetails perfectly with Vecima’s suite of leading edge cable platforms to provide the cable industry with a compelling IP video and broadband access ecosystem. Adding Concurrent’s broad portfolio of products to Vecima’s industry-leading Broadband Access Platforms results in a powerful combination that allows for delivery of an end-to-end, massively scalable video and data solution, both to existing and new customers.”
Vecima Networks Inc. (Toronto: VCM)