Internet video technology provider NeuLion has agreed a deal to acquire Saffron Digital, a company that helps clients to build over-the-top digital video services.
NeuLion said the agreement would allow the company to reduce “project complexities” for content rights-holders and “significantly” cut the time to market for new OTT services.
The value of the all-cash asset transaction was not disclosed.
“The OTT video market is accelerating rapidly in the US, Europe and other parts of the world, and represents a large and growing addressable market for the combined company,” NeuLion president and chief executive Roy Reichbach said. “The integrated company can offer owners and rights-holders of sports and entertainment a complete end to end solution for both live and on demand content that is a clear market leader.”
NeuLion, which is a partner of properties such as the Ultimate Fighting Championship mixed martial arts organisation, last month teamed up with international sports broadcaster Eleven Sports Network to launch a new digital sports service in Belgium, Luxembourg, Poland, Singapore and Taiwan.