Qvest Group is strengthening its portfolio with the acquisition of TeraVolt, a developer of smart TV applications based in Hamburg. Financial details were not disclosed.
The new member of Qvest Group enables solutions for TV, streaming platforms and content providers. In the area of HbbTV and Connected TV apps, TeraVolt is also a long-standing partner of broadcasters and digital platforms such as ZDF (development of the catch-up service) as well as RTL, Deutsche Telekom (Magenta Sport) and Vodafone.
“We are proud that TeraVolt has developed into a leading OTT solution provider for the TV industry. Our expertise perfectly complements the extensive competencies of the Qvest Group. As an integral part of Qvest, we are now jointly able to provide even more comprehensive support to customers worldwide to make the most of the remarkable opportunities of digital transformation,” said Tobias Künkel, CEO of TeraVolt.
Peter Nöthen, CEO of Qvest Group, added: “In recent years, the TeraVolt team has established itself as specialists for OTT and has made a lasting impression on numerous customers from the sports as well as media and entertainment sector with products such as TVXRAY. This range of services and the key expertise in OTT mean a targeted reinforcement for our portfolio and make TeraVolt the ‘perfect fit’ for Qvest.”
The further development of the company will be continued by the established TeraVolt team around Tobias Künkel (CEO), Oliver Koch (CCO), Tobias Fröhlich (CPO) and Volker Harbs (CTO) and will be expanded globally together with the Qvest management. In the future, TeraVolt’s products and services will also be offered through Qvest’s worldwide locations. TeraVolt’s customers include ARD, ZDF, ProSiebenSat.1, Sky, Deutsche Fußball Liga (DFL) and Red Bull Media House.
