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July 12, 2022
LONDON – Synamedia, the world's largest independent video software provider, today announced it has acquired Quortex, the privately-held provider of a leading cloud video delivery platform optimized for just-in-time processing of live video streaming.
With this acquisition, Synamedia will enhance its cloud Video Network capabilities, complementing its VIVID Workflow as-a-Service (WaaS) with a set of innovative solutions for OTT content processing, disaster recovery, long tail content processing for large service providers and live events.
Using a patented, industry-first, pay-as-you-stream model, Quortex's just-in-time technology provides exactly the resources required at any given time. If no one is watching a channel, it simply frees up those resources. This methodology provides time to market and considerable cost advantages over existing cloud approaches, while ensuring that every deployed resource has a purpose.
For example, for long tail content, Quortex's technology reduces cloud costs up to 67%. Quortex's multi-tenant SaaS technology builds video streams on-the-fly, based on the end users' requirements and matched to viewers' locations, devices and time zones. It adapts to unpredictable networks, infrastructure and audiences, and automatically scales cloud resources up and down, leveraging spot instances that take advantage of spare cloud capacity at a fraction of the typical cost, while maintaining quality of experience.
The service is designed for any live streaming provider, including telcos, cable operators, direct-to-consumer (D2C) players and broadcasters.
As a founding member of Greening of Streaming, and as energy costs spiral and organizations commit to cutting CO2 emissions, Quortex is well positioned to play an important role in sustainability strategies.
Quortex was founded in Rennes, France, in 2018 by a team of video industry experts with more than 100 patents. Customers include beIN Group Media, M6 and Red Bee Media. The company's employees in France and the UK will be joining Synamedia.
Quortex has been supported since its inception by Elaia, Go Capital, Unexo and business angels. Its technology will be part of Synamedia's Video Network portfolio, and the company will continue to operate under its own brand while taking advantage of Synamedia's customer base, financial strength and global presence.
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