All rights reserved. Net Insight signed an agreement to divest its Sye consumer streaming business for approximately $37 million in cash to a Fortune 500 company. Net Insight said it’s selling the division to increase focus and investments in its core B2B media networks business. Net Insight signed an agreement to divest its Sye consumer streaming business for approximately $37 million in cash to a Fortune 500 company. As announced on December 17, 2019, Net Insight … © 2020 Sports Video Group. The Sye technology has proven its unique capability to solve fundamental issues for consumer live streaming, a complex ecosystem with large and powerful stakeholders. Print This Story As expected, on January 3rd, Net Insight announced they have divested their streaming technology product Sye, by selling the business to Amazon for $33.5M. Net Insight is listed on Nasdaq Stockholm. Site by Brightgreen Design/Arturan/Sfera Interactive. To influence these stakeholders is critical and the market is less accessible for a small B2B company like Net Insight. Net Insight’s Streaming Solutions business area incorporates the Sye business and the business area operates on an independent basis. Competencies gained while developing and launching Sye, for example related to virtualized software and cloud-based technology, will continue to benefit Net Insight’s Media Networks business area. The Streaming Solutions business area had operating earnings of SEK -37.5 million for the first nine months of 2019 and to date Net Insight has invested around SEK 215 million in Sye. In light of this and the offer received, Net Insight has decided to divest the Sye business.
. “Sye has accelerated Net Insight’s transformation to an advanced media technology company and has added invaluable competencies that will remain with Net Insight also after the divestment.”. The Sye technology was already being used by Amazon Prime Video for many of their live streaming events and works to reduce end-to-end latency, sync video across multiple channels and allow instant channel changes. The Sye technology has proven its unique capability to solve fundamental issues for consumer live streaming, a complex ecosystem with large and powerful stakeholders. The Sye technology solves fundamental issues for consumer live streaming, a complex ecosystem with large and powerful stakeholders. Net Insight has closed the transaction to divest Sye, its consumer streaming business, to Amazon for approximately $37.2 million in cash. The divestment allows Net Insight to increase focus and investments in its core B2B Media Networks business area and competencies gained while developing and launching Sye, for example, related to virtualized software and cloud-based technology, will continue to benefit the company. Net Insight will be bringing expert insight and innovation with customer focus at this year’s IBC Show, and showcase global leadership in media networks, resource optimisation and streaming solutions. The transaction involves divestment of 100% of the shares in a wholly owned Sye business subsidiary. More than 500 world-class customers run mission-critical media services using Net Insight’s solutions in more than 60 countries worldwide. “Sye has accelerated Net Insight’s transformation to an advanced media technology company and has added invaluable competencies that will remain with Net Insight also after the divestment.”, The divestment will allow Net Insight to increase focus and investments in its core B2B media transport business. Net Insight signed an agreement to divest the Streaming Solution business area (Sye) on December 17th 2019. Stockholm, Sweden – Net Insight has today signed an agreement to divest its Sye consumer streaming business for SEK 350 million in cash to a Fortune 500 company. Media vendor Net Insight has announced an agreement to divest its Sye consumer streaming business for SEK 350 million (€33.4 million) to an as-yet unnamed Fortune 500 company. The Sye technology solves fundamental issues for B2C streaming distribution and Amazon has already deployed Sye in some of its live streaming services as a customer. Net Insight P.O. Sye represented a small fraction of Net Insight’s overall business and, as Dan Rayburn pointed out, a lot of that business was already being accounted for by Amazon, which was using Sye for its livestreaming operations. LinkedIn: @Net Insight, www.linkedin.com/company/net-insight/, © 2008–2010 Facility and Personnel Scheduling/Management, We use cookies on our website to improve your online experience. As a result, the effects on the rest of Net Insight operations will be limited. With more than 20 years’ experience, Net Insight is a trusted and important partner and a leading force in the media tech industry in creating a better media experience. In light of this and the offer received, Net Insight has decided to divest the Sye business. The transaction is expected to be completed in the coming weeks. In light of this and the offer received, Net Insight has decided to divest the Sye business. The transaction is expected to be completed in the coming weeks. The transaction is subject to customary closing conditions. TR Newswire —
Net Insight is powering the evolving media business in a connected world where technology enables seamless meetings between producers, distributors and consumers of content – regardless of geographical location, technical resources or distribution network. By your continued use of the site, you consent to the use of these cookies. Privacy Policy, Ubersmith, an INAP Company, Reports Subscription Management Progress in 2019, BridgeClimb Reaches the Cloud with RingCentral’s Cloud Communications and Contact Centre Solutions, Net Insight AB : Executive vice president Anders Persson leaves Net Insight, Net Insight AB : Net Insight Annual Report 2011 now on www.netinsight.net, NET INSIGHT AB: NET INSIGHT ANNUAL REPORT 2018 PUBLISHED, Net Insight AB : Net Insight Annual Report 2013 now published on www.netinsight.net, Net Insight AB: Net Insight Annual Report 2012 now published on www.netinsight.net. | Subscribe. Under the agreement, all relevant IPRs and contracts and about 30 employees and consultants will be transferred to the buyer. To influence these stakeholders is critical and the market is less accessible for a small B2B company like Net Insight. Anders Harrysson, interim CEO of Net Insight, +46 8 685 04 00, anders.harrysson@netinsight.net. Please [...], Writer2020-04-16T08:23:05+00:00March 27th, 2020|Categories: News|Tags: atsc3, broadcasting, Nimbra|, Published March 24 ATSC 3.0 is a hot topic in [...], Writer2020-06-08T08:33:52+00:00March 13th, 2020|Categories: News|Tags: coronavirus, Covid-19|, In light of the global situation with the Coronavirus, Net [...], Writer2020-03-11T11:10:02+00:00March 11th, 2020|Categories: News|Tags: interoperability, ip networks, live video, RIST forum|, The RIST Forum promotes an interoperable standard, Reliable Internet Stream Transport (RIST) [...], Writer2020-01-26T15:36:07+00:00January 26th, 2020|Categories: News, Uncategorized|Tags: at-home production, iabm award, ip, net insight, Remote production, svt|, The Creative Collaboration Award celebrates ground-breaking innovations that have been [...], Writer2019-11-14T11:41:31+00:00November 14th, 2019|Categories: News|Tags: Streaming|, Net Insight is proud to be one of the most [...], Writer2019-11-11T08:26:58+00:00November 11th, 2019|Categories: News|Tags: live streaming, low latency, ott, Sye|, We’re happy to announce that Net Insight’s live streaming solution [...]. It’s an exciting time for technology in the media industry, filled with transformations and emerging tech. The Streaming Solutions business area had operating earnings of SEK -37.5 million for the first nine months of 2019 and to date Net Insight has invested around SEK 215 million in Sye. In light of this and the offer received, Net Insight has decided to divest the Sye business. The Sye solution from Net Insight – a leading provider of live streaming, media transport and resource scheduling – is specifically designed to harmonize the viewing experience during live streaming events, ensuring everyone sees the same content at the same time. The divestment will allow Net Insight to increase focus and investments in its core B2B media transport business.
“The fact that a Fortune 500 company wants to acquire Net Insight’s internally developed consumer streaming solution is a proof point of our ability to develop world-class video transport solutions,” says Gunilla Fransson, Chairman of the Board of Net Insight.