SeaChange International has purchased Mobix Interactive, the UK-based provider of software and content aggregation services, which boasts mobile operators O2, 3 and South Africa’s Vodacom among its customer base. It also has relationships with Warner Music Group, Turner and MGM Universal.
The £3 million deal also includes a further £8.3 million over the next three years providing Mobix is able to achieve a series of financial and commercial measures.
“This acquisition strengthens our Media Services segment by broadening the On Demand Group’s (ODG’s) video content service offering to include mobile applications,” said Bill Styslinger, President and CEO, SeaChange International. Mobix not only provides proven solutions to a new set of customers for ODG, but also allows ODG to offer one branded service across multiple platforms for many of its existing customers.”
Mobix makes for a potentially good fit for SeaChange’s mix of technology and content services that include the London VOD operation On Demand Group.
In its third quarter ending October 31, 2008, SeaChange grew revenues by $2.8 million on 2007. Its nine month revenues of $147.9 million, a 12% increase, took the company back into profit in its fiscal 2009 year, reporting a net income of $5.2 million. The company says North American interest in VOD and advertising insertion products will help SeaChange achieve 2009 revenues 10% higher than in fiscal 2008.