Synamedia has acquired the cloud video delivery platform provider Quortex for an undisclosed fee.
With this acquisition, Synamedia says it will enhance its cloud Video Network capabilities, complementing its VIVID Workflow as-a-Service (WaaS) with a set of innovative solutions for OTT content processing, disaster recovery, long tail content processing for large service providers, and live events.
Commenting on the transaction, Julien Signes, EVP and general manager of Video Network at Synamedia, said: “By pioneering just-in-time video streaming processing and delivery, Quortex has broken new ground with live services that dynamically spring to life when processing a user request. This radical change in the economics of cloud processing will accelerate the migration of live video services to the cloud. We see enormous potential as we expand Quortex’s reach globally – for the fast-growing D2C live streaming market as well as our traditional service provider customer base who want to reduce infrastructure costs and meet their CO2 reduction commitments”.
Ben Keen, independent analyst and advisor, added: “True innovation often derives from a dismantling of legacy approaches to a problem and Quortex has brought some timely fresh thinking to video streaming technology. Reversing the traditional ‘push’ architecture, the Quortex team has come up with a potentially more efficient scalable ‘pull’ process that uses bandwidth only when it is required. The addition of this true SaaS proposition to the portfolio should allow Synamedia to offer live streaming services to a far broader range of increasingly cost-sensitive and environmentally-aware customers”.
Marc Baillavoine, CEO and founder of Quortex, said: “With our breakthrough just-in-time approach, we have turned the live streaming model on its head, ditching the need to wastefully provision streaming resources just-in-case. We believe that with Synamedia’s global reach and complementary product lines, we can accelerate our mission to transform the agility and cost of streaming and slash its carbon footprint”.
Quortex was founded in Rennes, France, in 2018 by a team of video industry experts with more than 100 patents. Customers include beIN Group Media, M6 and Red Bee Media. The company’s employees in France and the UK will be joining Synamedia.
Its technology will be part of Synamedia’s Video Network portfolio, and the company will continue to operate under its own brand while taking advantage of Synamedia’s customer base, financial strength and global presence.
