Synacor Acquires NimbleTV Video Talent and Live Linear TV Technology
January 14 2015 - 2:05PM
Synacor Inc. (Nasdaq:SYNC), the trusted technology, services and
revenue partner for video, Internet and communications providers,
and device manufacturers, today announced it has acquired NimbleTV,
the New York City-based provider of multiscreen, live linear
television programming for pay-TV subscribers. The combination of
NimbleTV's assets and talent is part of Synacor's broader strategy
for delivering end-to-end, advanced video solutions.
"As part of the Synacor growth strategy, we are committed to
both bolstering our offerings and expanding our team around video.
The NimbleTV transaction is part acqui-hire, where we are adding to
Synacor a team steeped in video expertise, as well as an
acquisition of technology that will enable us to deploy an
authenticated, linear TV service on behalf of our clients," said
Synacor CEO Himesh Bhise. "Synacor has an important role to play as
streaming video consumers—OTT and TV Everywhere—proliferate. We see
a fragmented landscape of vendors and believe our customers are
looking to Synacor as a one-stop, trusted partner. NimbleTV is
another step toward expanding our team and platform to deliver
end-to-end, advanced video solutions. And we will continue to
work with partners in the video ecosystem to assemble best-in-class
technologies to deliver video solutions for our clients."
NimbleTV will allow Synacor to accelerate video product
development and client commitments, as well as better leverage
client TV rights. Synacor also gains patents that will further
strengthen Synacor's award-winning Cloud ID offering.
"For NimbleTV, becoming part of Synacor's unique business model
and layering into Synacor's video product roadmap is a logical and
exciting next step," said NimbleTV CEO Anand Subramanian. "We bring
consumer-tested video technology and patents to the table at a time
when Synacor customers are looking to leverage new advancements
with OTT and TVE video, especially live linear. All of us on the
NimbleTV team are truly excited about becoming part of
Synacor."
NimbleTV recently discontinued its direct-to-consumer service,
and as part of Synacor's acquisition of assets, NimbleTV's
technology will be integrated into Synacor's overall video
platform. Financial details about the acquisition were not
disclosed. For more information on Synacor and its end-to-end,
advanced video solutions, please visit synacor.com or email
tellmemore@synacor.com.
About Synacor
Synacor (Nasdaq:SYNC) is the trusted technology, services and
revenue partner for video, Internet and communications providers,
and device manufacturers. We deliver modern, multiscreen
experiences and advertising to their consumers that require scale,
actionable data and sophisticated implementation.
www.synacor.com
Forward-Looking Statements
This release includes certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements are based on the current expectations or
beliefs of management of Synacor, and are subject to uncertainty
and changes in circumstances. Actual results may vary materially
from those expressed or implied by the statements herein due to
changes in economic, business, competitive, technological and/or
regulatory factors, and other factors affecting the operation of
the respective businesses of Synacor. More detailed information
about these factors may be found under the captions "Risk Factors"
and "Management's Discussion and Analysis of Financial Condition
and Results of Operations," in Synacor's annual report on Form 10-K
for the year ended December 31, 2013, which is available on the
company's website at investor.synacor.com and on the SEC's website
at www.sec.gov. Synacor is under no obligation to, and expressly
disclaims any such obligation to, update or alter their respective
forward-looking statements, whether as a result of new information,
future events, or otherwise.
The Synacor logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=11609
CONTACT: Investor Contact:
Denise Garcia, MD
ICR
ir@synacor.com
716-362-3309
Press Contact:
Meredith Roth, VP, Corporate Communications
Synacor
mroth@synacor.com
716-362-3880
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