A listed听London group serving the听content creation market has made a double US swoop.听
The Vitec Group plc, headquartered in听Richmond, West London,听provides hardware products and software solutions to听broadcasters, film studios听and听production and rental companies,听as well as听photographers, independent content creators and enterprises.听
It听designs, manufactures听and distributes听camera supports, video transmission systems and monitors, live streaming solutions, smartphone accessories, robotic camera systems, prompters, LED lighting, mobile power, bags and motion control, audio capture and noise reduction equipment.听
Vitec听employs around 1,600 people in 11 different countries, generated 拢300m revenue in 2020 and made听拢10m听profit.听
A 拢26 million deal听for听Lightstream听is expected to be completed imminently.听Lightstream听develops cloud-based live production software to enable content creators, particularly gamers, to enrich their live video streams.听
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It has strong strategic partnerships and technology integrations with the leading streaming and gaming platforms, including with Microsoft’s Xbox and Amazon’s Twitch.听Its 22 employees听and four co-founders, including CEO Stu Grubbs, will join Vitec.听
Lightstream听has听16,000 paying subscribers听and made听拢1.4m revenues in 2020, with an EBITDA loss of 拢2m.听
Quasar,听which听designs and develops linear LED lighting solutions for cine-style applications,听has already joined the group in a听拢4.4m cash听deal.听听
Based in Los Angeles,听its听products are used in professional, large-scale film and scripted TV production as well as small scale new media markets.听It employs 18听people听and its four co-founders will also join Vitec.听
Revenue for the years听to 31st听December 2019 and 2020 was 拢6m and 拢2.7m respectively.听听
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“Lightstream听is a world-leading live streaming software business. This acquisition enables Vitec to enter the substantial and fast-growing adjacent gaming market, adding innovative and complementary software for our live streaming customers and significantly expanding our customer reach,鈥� said听Stephen Bird, Group Chief Executive of Vitec.听
鈥�With听Lightstream听as part of the听group, we will be able to address the growing demand for cloud-based content creation as well as more than doubling our recurring revenue stream.听
“Quasar products are highly complementary to our听Litepanels听brand and this acquisition will enhance our position as a leading player in the growing LED lighting market.听听
“These acquisitions are an excellent strategic and technological fit, have great medium-term prospects and are expected to increase our underlying revenue CAGR.听
“This is an exciting time for Vitec as we continue to increase our higher technology capabilities and expand our total addressable market. I am delighted to welcome both talented teams to the听group.”