Concurrent Computer Corp. went into acquisition mode Friday, putting up $15 million in stock for video-on-demand reporting and statistics specialist Everstream Holdings Inc.

Everstream's S4 DataSuite monitors and analyzes data from VOD traffic for historical reporting and on-demand advertising means. It has deployments with seven of the bigger cable MSOs in North America, including Adelphia Communications, Cox Communications and Time Warner Cable. Cleveland, Ohio-based Everstream was founded in 1999.

The deal is expected to close in October, though Concurrent can terminate the deal if its average stock price falls below $1.55, and Everstream can scuttle it if Concurrent's average stock price rises above $2.78. Concurrent shares were priced at $1.91 (up 12 cents, or 6.7 percent) in early trading Friday.

Concurrent, which has an existing stake in Everstream valued at $500,000, said it will operate the newly acquired company as in independent, wholly-owned subsidiary in order to ensure the protection of private customer data.

The deal aims to expand Concurrent's VOD strategy well beyond traditional servers and backoffice systems.

"This acquisition signals our move into the broader market of business intelligence software that can extend into any network involved in real-time customer transactions," said Gary Trimm, Concurrent's President & CEO, in a release. "Through our rapidly expanding international business and our worldwide sales and support presence, we believe we will greatly increase Everstream's addressable market."