Video production and live clipping company Tellyo is to be bought by Amagi, a cloud-based broadcast technology firm.
Amagi said that the definitive agreement to purchase the Tellyo business would enhance its video toolset for live sports and news broadcasts, and improve the live video streaming and editing experience for its customers.
The development comes after Tellyo chief executive Richard Collins recently acquired a majority stake in the company from the Exset Group. Collins acquired the company through his Live Video Production Software (LVPS) investment vehicle.
Tellyo, a rival of Grabyo, raised €5m ($5.3m) from Exset between 2014 and 2021.
Collins said of the Amagi takeover: “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.”