Media-tech unicorn Amagi has signed a definitive agreement to acquire the business of Tellyo, a UK-based real-time live cloud remote production, clipping/editing, and social sharing platform, for an undisclosed amount.
This is Amagi's second acquisition after purchasing Streamwise, a US-based data platform for content distributors, in November last year to strengthen its streaming data analytics solutions.
The deal is expected to help the Bengaluru-based firm boost its video toolset for live sports and news broadcasts and improve live video streaming and editing experience for customers across the world. Terms of the deal were not disclosed.
The move comes a couple of months after Amagi had announced a strategic partnership with Tellyo to provide broadcasters with a suite of tools that simplify video clipping, editing, and sharing, especially during live events.
The acquisition will also help the company expand its footprint in Europe and drive "cloud innovation" in the region in an accelerated manner. Early last year, Amagi had set up its development center in Croatia, its first outside India.
Founded in 2012 by Jakub Majkowski and Mariusz Ostoja-Świerczyński, Tellyo enables media and content teams to produce compelling live video that can be streamed to multiple digital and social media destinations using Stream Studio.
It also helps them create branded video clips, highlights, and video compilations thay can be shared across social media channels simultaneously. The firm counts Russia's GS Group among its investors.
In addition, Tellyo helps deliver high-quality web conferences, events and presentations in real-time that bring external contributors and commentators into productions from multiple devices. Among its target audience is athletes, actors, sponsors, ambassadors and influencers looking to expand their reach and engagement across social media platforms.
"Tellyo brings a wealth of expertise, a strong team, and innovative products that align perfectly with our strategic vision of being a frontrunner in the cloud-based live broadcast technology space," said Amagi co-founder Baskar Subramanian.
"Together, we will not only improve Amagi’s product offerings, but also bring investments in the Eastern European region and create new possibilities for local talent and global customers" he added.
Amagi co-founder Srinivasan KA said they are "committed to ensure a smooth transition" for Tellyo’s clients, employees, and partners during this period.
Tellyo CEO Richard Collins also said "We believe that joining forces with Amagi will provide us with the resources and scale to reach new heights. We are excited about the potential of what both our companies can offer"
Last year, Amagi raised a $100-million investment from private-equity firm General Atlantic at a valuation of $1.4 billion. With this financing, the firm has raised a total of $345 million to date, which includes backers such as Accel, Norwest Venture Partners, Avataar Ventures, Premji Invest and Nadathur Holdings.
Founded in 2008 by Subramanian, Srinivasan KA and Srividhya Srinivasan, Amagi enables content owners to launch, distribute and monetise live linear channels and on-demand channels across free-ad-supported television and video services platforms through a suite of solutions.
Overall, Amagi supports more than 700 content brands, 800-plus playout chains, and over 2,100 channel deliveries on its platform across more than 40 countries.
Among its clients include NBCUniversal, The Roku Channel, Vice Media, ABS-CBN, AccuWeather, A+E Networks UK, Cinedigm, Cox Media Group, Crackle Plus, Fremantle, Gannett, Gusto TV, and Tastemade.
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