Evolution Digital, a supplier of video equipment, software and services to independent MVPDs, said it has acquired i-Velozity LLC, a startup that has developed a low-cost IP-VoD platform.
Financial terms were not disclosed, but Centennial, Colo.-based Evolution said the acquisition will enable it to help its cable operator partners deliver video-on-demand services over IP to set-tops as well as other types of connected devices, including tablets, smartphones and gaming consoles.
i-Velozity’s multiscreen IP-VOD software platform, which hooks into cable and telco backoffice and billing systems, runs on standards-based, off-the-shelf hardware and offers a cost-effective alternative to more traditional QAM-based VOD systems, said Brent Smith, Evolution’s president and CTO.
“Legacy VOD systems are just too expensive,” he said, holding that Evolution is now positioned to bring a next-gen video-on-demand platform that fits the cost models of tier 2/3 cable operators. He said i-Velozity’s platform is also capable of delivering linear video over IP, which will come into play as operators begin to deploy a sizable base of IP-enabled hybrid set-tops and gateways.
i-Velozity, which has an executive office in Chicago with engineering based in India, already has a deal to sell its platform to members of the National Cable Television Consortium (NCTC), and has agreements to offer transactional and subscription-based content from the VOD libraries of both Vubiquity and Comcast, Smith said.
Smith said i-Velozity has already landed deployments with some operators that use TiVo and Arris’s Moxi platform, but the acquisition will enable the startup to take advantage of Evolution’s sales and marketing channels for the tier 2/3 cable sector as operators push ahead with their IP video transitions. The addition of i-Velozity, meanwhile, will also add a new capability to Evolution, a developer of IP and hybrid IP/QAM set-tops and digital transport adapters.
“This acquisition marks the next step in Evolution’s on-going strategy to develop creative and cost-effective solutions for cable operators,” Chris Egan, Evolution’s CEO, said in a statement. “With this acquisition we’ve obtained technology focused on the delivery of IP content to set-top boxes and connected devices that includes a deep library of VOD content along with the knowledge and expertise of over 30 software engineers. We are very excited about the opportunities this creates for both Evolution and our valued customers.”
Evolution announced the acquisition in tandem with The Independent Show, which was kicked off by the NCTC and the American Cable Association on Sunday in Boston.