Video-specific cloud services provider Amagi says it has entered into a definitive purchase agreement to acquire Tellyo’s live broadcast business, the companies announced on Monday.
Tellyo provides cloud-based software that allows broadcasters to take advantage of remote production, editing and social media sharing of their live video streams. Amagi says acquiring Tellyo and its suite of broadcast-focused products will strengthen its own tools that are aimed at live sports and news producers.
“We are excited about the opportunities this acquisition presents for Amagi,” Baskar Subramanian, the co-founder and CEO of Amagi, said on Monday. “Tellyo brings a wealth of expertise, a strong team, and innovative products that align perfectly with our strategic vision of being a frontrunner in the cloud-based live broadcast technology space. Together, we will not only enrich Amagi’s product offerings, but also bring investments in the Eastern European region and create new possibilities for local talent and global customers.”
Richard Collins, the CEO of Tellya, said the combination of forces between his company and Amagi “is a testament to our commitment in delivering outstanding value to our customers, employees and investors.”
“We believe that joining forces with Amagi will provide us with the resources and scale to reach new heights. We are excited about the potential of what both our companies can offer,” Collins said.
Officials at Amagi said there will be a “smooth transition for Tellyo’s clients, employees and partners during this exciting phase.” Terms of the deal were not disclosed, but Tellyo is expected to continue operating out of Eastern Europe for some time. That includes Tellyo’s technology center in Poland, which will work in partnership with Amagi’s offices in Croatia and India.
