NeuLion Nabs Saffron Digital, Pointing to Entertainment Expansion
While NeuLion has a large share of the live sports streaming market, the company appears eager to grow into new areas. Yesterday, NeuLion announced that it's acquiring Saffron Digital in an all-cash transaction (it didn't disclose the price). Privately-owned Saffron is based in the U.K., where it creates multi-platform streaming video services for large entertainment customers that include Carrefour, BT, Deutsche Telecom, ITV, and Tribeca Shortlist. The deal shows NeuLion's intent to grow both its range of services and customer base.
NeuLion emphasizes that the combined company will reduce project complexity for customers since they'll need to deal with fewer vendors. With Saffron Digital's strengths, NeuLion will also reduce time to market for over-the-top (OTT) and TV Everywhere services, supporting all video formats up to a 4K resolution, it says.
"The market is getting competitive for OTT services trying to attract and retain subscribers," says Chris Wagner, executive vice president and co-founder of NeuLion. "Owners and rights holders of content need a platform that will offer consumers a variety of live and on demand content choices. We have done that with the Saffron Digital deal." NeuLion is now a one-stop shop for content owners and rights holders interested in OTT, he added.
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