SeaChange Buys Xstream for $5.5M
ACTON, Mass. -- Video delivery platform leader SeaChange International (NASDAQ: SEAC) today announced that it has acquired privately-held Xstream A/S, a leading over-the-top video and TV cloud platform provider based in Copenhagen, Denmark and Warsaw, Poland. SeaChange paid $4.6 million in cash and 541,738 shares of SeaChange common stock, for a total transaction value as of February 6, 2019 of $5.5 million.
Ed Terino, Chief Executive Officer stated, “Xstream provides us a managed service, over-the-top video solution that already serves more than 5 million active subscribers globally and generates approximately $6 million in annual SaaS revenues. Xstream’s MediaMaker video platform will enhance the SeaChange end-to-end video framework and enable us to gain near-term revenue synergies.”
Major Xstream customers include Canal Digital (Telenor), Star Online (Dimsum), ALT Digital Media Entertainment (Balaji), Mayo Clinic, Altibox, and Our Star Club.
SeaChange International Inc. (Nasdaq: SEAC)