Video-on-demand vendor Concurrent Computer acquired the technology assets of TellyTopia, a startup that developed a system to let pay-TV providers incorporate Internet-hosted video into their services, bolstering its multiscreen strategy.
Financial terms were not disclosed. Concurrent said the purchase price "will not have a material impact" on its balance sheet.
TellyTopia's online video platform will become part of Concurrent's multiscreen video portfolio. The startup's two co-founders -- CEO Kshitij Kumar and vice president Ram Srinivasan -- have both joined Concurrent. While TellyTopia at one point had a headcount of 28, Kumar and Srinivasan were the only employees at the time of the Concurrent deal.
"Concurrent's vision is to enable limitless access to video content by providing screen and network agnostic video solutions," Concurrent president and CEO Dan Mondor said in announcing the deal Thursday. "TellyTopia's next-generation, cloud-based video delivery solution directly aligns with Concurrent's strategy of delivering innovative commercial-grade video solutions that can generate incremental revenue and enable development of innovative new business models."
Other companies pitching Internet-based video systems include ActiveVideo Networks and Clearleap.
Santa Clara, Calif.-based TellyTopia, founded in 2006, was privately held with backing from investors including Trilithic, a provider of radio-frequency, wireless and broadband components and measurement equipment.
TellyTopia's technology includes a solution that allows TV providers to expand their own VOD libraries by tapping into other sources of video, including user-generated content, and an online video management platform to enable content delivery to any device.
Duluth, Ga.-based Concurrent claims its VOD and media data solutions serve more than 38 million digital subscribers worldwide, and its solutions aggregate and analyze data from more than 3.5 billion records per day from transactions across linear, VOD, DVR and interactive TV services.