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September 27, 2021
SeaChange International, a video tech specialist that's been led by multiple execs during a years-long reorganization and restructuring period, has named a new, full-time CEO as the company claims it has at last reached a point of stability.
Now running the SeaChange ship as president and CEO is Peter Aquino, an executive with ties to the video and broadband services industry.
Figure 1: Peter Aquino is also serving as chairman and CEO of Spartacus Acquisition Corporation until Spartacus finalizes a merger with next-gen GPS company NextNav.
(Image source: SeaChange)
Aquino is currently chairman and CEO of Spartacus Acquisition Corporation, a special purpose acquisition company (SPAC), and will continue to serve in that role until Spartacus finalizes a proposed merger with next-gen GPS company NextNav that's expected to close in Q4 2021.
Aquino has previously served as CEO of Internap, Primus Telecommunications Group and RCN Corp., a competitive overbuilder that is now part of Astound Broadband. Aquino is also late of Bell Atlantic (now part of Verizon).
Aquino is taking charge of SeaChange more than nine months after its former CEO, Yossi Aloni, abruptly left the company to pursue other interests.
In the meantime, SeaChange has been shifting its business from legacy hardware to one focused on software. That change has recently led to the launch of StreamVid, a new cloud-based, software-as-a-service offering that supports various streaming devices, including standalone streaming players and integrated smart TVs. SeaChange's early wins for StreamVid include Popcornflix, a free, ad-supported streaming service, and Screen iL, a premium streaming service focused on Israeli TV channels and films.
StreamVid, an offering hosted by AWS, is now considered a central component of a restructured product portfolio at SeaChange that also includes legacy, on-premises software products for broadcast TV and VoD, QAM-based video in use by cable operators, and an advanced ad-tech platform that can be used for both traditional broadcast TV and OTT-delivered streams.
Entering 'growth mode'
Aided in part by its new streaming product and strategy, SeaChange recently declared that its years-long restructuring journey has come to an end.
"The stabilization period for our company is over. We are now in a growth mode," Robert Pons, SeaChange's chairman, said on the company's fiscal Q2 earnings call earlier this month. "SeaChange is well positioned to capitalize on the intersection of the explosive growth in all things ad-tech, and all-things streaming," added Pons, who handled operating duties at SeaChange while the company conducted its CEO search.
Aquino was not available for an interview to discuss his plans and priorities for SeaChange, but said in a statement that he's joining the company at a "pivotal time in its growth."
Aquino is also coming on board as SeaChange's overall financials also show signs of improvement. SeaChange posted Q2 2022 revenues of $6.5 million, up 31% from the year-ago quarter. SeaChange also announced recently that its technology now connects more than 100 million subscribers worldwide and manages about 35,000 linear channels. Key customers on its roster include Verizon, Dish Network, Videotron, Cogeco, AT&T, Cox Communications and Liberty Global.
— Jeff Baumgartner, Senior Editor, Light Reading
Senior Editor, Light Reading
Baumgartner also served as Site Editor for Light Reading Cable from 2007-2013. In between his two stints at Light Reading, he led tech coverage for Multichannel News and was a regular contributor to Broadcasting + Cable. Baumgartner was named to the 2018 class of the Cable TV Pioneers.
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