ATLANTA, Sept. 23 /PRNewswire/ -- Concurrent (Nasdaq: CCUR), a worldwide leader in video and media data and advertising solutions, today announced it is accelerating its multi-screen video delivery and monetization strategy through the acquisition of key technology assets from TellyTopia, one of the world's first companies to bring user-generated and Internet hosted video directly to TV over service providers' existing network infrastructures. TellyTopia's patent-pending, cloud-based, online video platform becomes part of Concurrent's multi-screen portfolio and further extends the company's leadership in multi-screen video delivery, advertising and media data management.
"Concurrent's vision is to enable limitless access to video content by providing screen and network agnostic video solutions," said Dan Mondor, president and CEO of Concurrent. "TellyTopia's next-generation, cloud-based video delivery solution directly aligns with Concurrent's strategy of delivering innovative commercial-grade video solutions that can generate incremental revenue and enable development of innovative new business models."
TellyTopia's technology streamlines the video distribution process between broadcast and Internet content providers, advertisers and service providers which greatly enhances consumer experience. By integrating Concurrent and TellyTopia's product portfolios, Concurrent is able to immediately address this high-growth market opportunity for cable and telco operators, mobility and Internet service providers, as well as content delivery networks and content producers. The purchased technology includes:
An innovative TV-based video solution that allows service providers to expand their own video on demand (VOD) libraries by tapping into premium content existing outside of their own content libraries, including cloud-hosted storage archives. This enables subscribers to access a wider array of video content and offers service providers a streamlined way to immediately increase revenue from their existing on-demand platforms.
A sophisticated Online Video Platform that enables content delivery to any device, as well as Internet-based content to TV's over traditional networks. This unique platform enables premium content, "Best of the Web" content, user-generated content (UGC) and hyper local advertising to be presented to any device as VOD assets or broadcast programming.
"The explosive growth of Internet-based, over-the-top video delivery services such as Netflix, YouTube, and Hulu illustrates that consumers want access to larger content libraries and a greater variety of content types than have been traditionally offered on TV-based video services." said Mondor. "By integrating TellyTopia's technology, Concurrent has taken a major step forward to address this significant market by offering a solution that provides Internet hosted video content while maintaining the highly reliable, TV quality viewing experience that consumers demand."
Concurrent video delivery solutions are deployed in video on demand, time shifted broadcast TV and over-the- top (OTT) video services globally, including a number of the world's largest video on demand and IPTV systems. The company's media data solutions serve over 38 million digital subscribers and are being employed to aggregate and analyze data from over 3.5 billion records per day from transactions across linear, video on demand, DVR and interactivity video services.
Concurrent purchased the TellyTopia technology for an undisclosed sum that will not have a material impact on Concurrent's balance sheet.
Concurrent (Nasdaq: CCUR) is a global leader in innovative solutions that enable the seamless delivery, management and monetization of video on any screen. Built on a solid foundation of video firsts and Emmy® Award winning technology, Concurrent's screen-independent video delivery and media data solutions create a truly holistic, 360-degree view of the consumer video experience. By harnessing the full potential of video, Concurrent provides customers in the cable, telco, wireless, web, advertising and content development industries with new revenue opportunities such as advanced advertising. Concurrent's video solutions are built upon a rich heritage of high-performance real-time technology, which also powers solutions for the defense, aerospace, automotive and financial industries.
Concurrent is a global company with offices in North America, Europe and Asia. For more information, please visit www.ccur.com.
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