SeaChange International has entered into an agreement to obtain TLL, LLC, which does business as Timeline Labs.
Timeline Labs is a California-based SaaS company that helps local broadcasters, national news organizations, cable news channels and other media companies and brands to find and air social trends, track audience engagment, as well as dissect social media messages in real-time.
Through the agreement, SeaChange will pay $14 million in cash and $8 million in shares of SeaChange stock. There will also be up to $2.5 million in deferred performance-based consideration, which are payable in shares of the company's stock.
Fox Television Stations, Sinclair, Media General, Tribune broadcast television stations, and online providers like 120Sports.com are among Timeline's customers.