Sezmi, the cloud-based hybrid TV play that in September shuttered its struggling consumer service to focus instead on developing a product and technology platform targeted at service providers, has been acquired by KIT digital (Nasdaq: KITD). KIT digital paid about $27 million in stock and cash, plus earn-outs for the company, which was founded in 2006 and has raised more than $75 million.
The company had picked up a couple of big customers in Latin America and the APAC region, and was seen as one of the few direct competitors providing integrated, multi-device platforms for OTT premium content offerings.
KIT digital, which last year acquired a slew of companies to its roster of acquisitions, expects the Sezmi deal to generate aggregate earn-out payments of between $20 million and $25 million over a period of three years.
- see this FierceIPTV article
- see this release
Cable alternative Sezmi raises another $17.3 million
Sezmi defines itself
Sezmi unveils TV 2.0 Service
KIT digital, Harmonic team to offer multiscreen video solution
In a smart move, LG taps KIT digital for connected TV push