SeaChange Buys UK Co.
Acton video-on-demand company SeaChange International Inc. announced that it has acquired all outstanding shares of UK company Mobix Interactive Ltd.
SeaChange said it made a $4.5 million upfront payment upon closing the transaction and may pay as much as $12.5 million more, depending on Mobix's achievement of certain financial and commercial milestones.
SeaChange said acquiring Mobix, which provides software and content services for mobile phone operators, will broaden its video content service offering to mobile applications.
SeaChange also announced that it has increased both revenues and profits for the third quarter of the year.
The company's net income for the quarter was $3.4 million, up from $3.3 million for the same period last year. Revenues were $51.8 million, up from $49 million in the third quarter of last year.
WBJ Web Partners
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