It has paid a total of $5.5 million for the privately held company that also has interests in Warsaw.
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.”
It’s anticipated that SeaChange will be able to achieve several million dollars of cost synergies, taking advantage of its established our engineering and development organization in Warsaw.
“The acquisition of Xstream will accelerate SeaChange’s penetration in OTT and new market segments with a SaaS revenue model and fully cloud-based end-to-end video platform that operates in a hosted managed service environment,” added Terino.
Major Xstream customers include Canal Digital (Telenor), Star Online (Dimsum), ALT Digital Media Entertainment (Balaji), Mayo Clinic, Altibox, and Our Star Club.