European satellite operator Eutelsal is investing €10 million (about $11.13 million) into video tech vendor Broadpeak to help advance next-gen video services.
The companies said the investment would go toward furthering integration of satellite into the Internet Protocol (IP) ecosystem, developing turnkey video delivery solutions and making satellite a deeper part of emerging 5G mobile networks.
The team-up comes along shortly after Eutelsat released CIRRUS, its hybrid satellite-OTT multiscreen solution for satellite TV channels and operators.
“We are delighted to partner with Broadpeak with whom we have been working since 2015. This association with a recognized and innovative leader in video content delivery solutions will enable us to expand our offer in this area,” said Jean-Hubert Lenotte, chief strategy and resources officer at Eutelsat, in a statement. “Following the launch of Eutelsat CIRRUS last September, this investment reflects our strategy to accelerate the integration of IP and satellite technologies by expanding the portfolio of technological solutions available to our broadcast customers to distribute content to viewers across multiple channels.”
"This investment by Eutelsat will enable us to strengthen our team and finance the strong growth of our business. We are very excited to develop our partnership with Eutelsat, with whom we will build next-generation services to deliver, optimize and monetize high-quality video experiences for end-users, whether at home or on the move,” said Jacques Le Mancq, co-founder and chairman of Broadpeak, in a statement.