Concurrent buys TellyTopia's assets
Concurrent is buying the assets of TellyTopia, which has developed a system for accessing video content nearly anywhere in the world and presenting it as on-demand content.
Concurrent has been in the process of remaking its image from an old-line video on demand (VOD) company to a supplier of multi-screen video delivery platforms. The acquisition of TellyTopia should further that aim.
One of TellyTopia's technologies is the solution mentioned above that allows service providers to expand their own VOD libraries by tapping into premium content existing outside of their own content libraries.
The other TellyTopia line is its Online Video Platform, which enables content delivery to any device. That includes Internet-based content to TVs over traditional networks.
SureWest, for example, is using the Online Video Platform to allow its subscribers to upload video to a SureWest web site, and then access the uploaded video on their TVs through a dedicated video channel (story here).
Concurrent said it will integrate TellyTopia's technology into its own products. The purchase price was not disclosed. Concurrent said it "will not have a material impact" on its balance sheet.
Kshitij Kumar, CEO and co-founder of TellyTopia, and Ram Srinivasan, vice president and co-founder, have both joined Concurrent, along with a few other key employees.
Dan Mondor, president and CEO of Concurrent, said, "The explosive growth of Internet-based, over-the-top video delivery services such as Netflix, YouTube, and Hulu illustrates that consumers want access to larger content libraries and a greater variety of content types than have been traditionally offered on TV-based video services.
"By integrating TellyTopia's technology, Concurrent has taken a major step forward to address this significant market by offering a solution that provides Internet hosted video content while maintaining the highly reliable, TV quality viewing experience that consumers demand," Mondor concluded.