MUMBAI: Streaming applications developer 24i Media (24i) has acquired Vigour, a leading multiscreen video platform provider. The acquisition further enhances 24i’s leadership position globally and accelerates its innovation and growth, with its technology platform at the heart of its ambitions.
According to release issued by 24i, the Dutch video technology providers have joined forces to build a partnership within the global market that will develop foundational multiscreen solutions to meet the evolving needs of today’s digital subscribers. “With the acquisition of Vigour, 24i executes on its vision to drive innovation for video application technology, grow its international market share and build the most talented team in the industry,” the release stated. For Vigour, the acquisition provides an opportunity to expand the reach of its unique multiscreen vision across a much larger network, within an environment that provides the optimal operational conditions for the execution of a shared vision.
“Reaching consumers regardless of the devices they use is crucial in securing their long-term business. The more devices they use, the more hours of content they will consume, and the more value they will gain from their subscription. In pursuit of these goals, the rate of innovation has accelerated considerably over the last few years,” said Martijn Van Horssen, CEO at 24i Media. “Our acquisition of Vigour strengthens our ability to lead this innovation curve and provide attractive, cutting edge applications that empower our customers to deliver immersive experiences for their subscribers across any device.”
24i’s module-based technology framework allows broadcasters, operators and media companies to create and launch personalised streaming services on all screens, tailored to their needs.
“This is a tremendous step forward for 24i and our growth as a company. Bringing together our two companies ties directly to 24i’s strategy to deliver valuable outcomes to our customers and to extend our leadership in the rapidly expanding market for personalised cloud TV and video app technology. Together, our strong engineering talent, leading technology and deep video app expertise will unlock incredible innovation, choice and value for customers around the world,” Van Horssen added.
For 24i, the acquisition will enable the creation of an integrated set of flexible products for creating cross-screen, personalised internet TV applications, better positioning 24i to help companies rapidly develop OTT business models and capture new revenue streams in the high-growth and fast-evolving market.
"At Vigour we have always worked from vision and content," said Ramon Duivenvoorden, CEO at Vigour Duivenvoorden. "We are enormously driven by innovation to push the boundaries in the way we deal with technology and media in our daily lives. The acquisition by 24i offers us the opportunity to pursue this shared vision together with much more power, resources and scope."
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