Video-on-demand (VoD) firm, SeaChange, is acquiring UK-based mobile video business, Mobix Interactive. The deal was made through SeaChange's On Demand Group (ODG) subsidiary and was completed last week. SeaChange paid GBP3m (USD4.5m) with another GBP8.3m (USD12.5m) to follow over three years, based on Mobix's performance.
Mobix provides technology to companies that allows them to offer integrated mobile video and TV services. The firm has deals with mobile operators O2, Vodafone and 3 and media owners such as Sony BMG, Universal and Turner.
ODG offers content management services for Virgin Media's VoD cable TV output. It also offers VoD TV services, including content aggregation and management, to Kabel Deutschland, Unity Media, Telekom Austria and Greece-based OTE.
Through the new deal, ODG allows its network partners to access both the mobile and TV markets. ODG, which has its European headquarters in London, will integrate Mobix's UK operations and workforce, with the expansion headed by SeaChange SVP, Tony Kelly.
"I am very excited by the future and the prospect of working within SeaChange and ODG, as I firmly believe that three-screen convergence [delivering video to TV, PC and mobile] is now upon us and is a key requirement for all of our customers," says Mobix Interactive CEO, Damian Mulcock. "It's a compelling solution for consumers to interact seamlessly across a number of environments which is why we believe so strongly in the combination."
News of the acquisition comes as SeaChange announces its fiscal Q3 results. For the quarter ending October 31, the VoD solution provider posted a net profit of USD3.3m, up USD0.1m from the same period last year. This was based on revenues of USD51.8m.
StrategyEye's related companies: SeaChange International, Mobix Interactive, Virgin Media, Vodafone Group Plc, Sony BMG, On Demand Group, O2, Hutchison 3G UK Limited
