A growing leader in the video delivery platform space, SeaChange has acquired Xstream, an OTT video and TV cloud platform provider for $4.6 million (€4m) in cash (and 541,738 shares of SeaChange common stock) for a total transaction value of $5.5 million. Numbers that are surely to boost both SeaChange’s market position and valuation in the coming months.
Xstream has headquarters in both Denmark and Poland and serves video to more than 5 million of subscribers globally, generating nearly $6 million in annual revenue. Xstream serves customers like Canal Digital (Telenor), Star Online (Dimsum), ALT Digital Media Entertainment (Balaji), Mayo Clinic, Altibox, and Our Star Club.
All major SeaChange engineering and product development will be run out of Warsaw. After a brief transition period these teams will most likely see increased velocity of roadmap deliverables and accelerate SeaChange’s penetration in OTT.