Video-on-Demand Firm SeaChange to Acquire eventIS Group

Authored by Mark Hefflinger on September 1, 2009 - 7:41am.

Acton, Mass. - SeaChange International, a developer of hardware and software for video-on-demand (VOD) television, said on Tuesday that it has acquired eventIS Group in a deal worth $45 million.

Netherlands-based eventIS is a developer of VOD and linear broadcast software and services to European cable and telecom companies.

The deal includes $36.6 million at closing, as well as future payments of $5.1 million in cash and $3.3 million in stock to shareholders.

eventIS, which has about 70 employees, generated $13 million in revenue last year, turning a profit.

Related Links:
http://www.schange.com/News/News.aspx

http://www.eventis.nl