S3 Group said it has struck a deal to sell its TV technology division, which includes its StormTest automated testing platform, to Accenture.
Financial terms weren’t disclosed, but Accenture said it will integrate S3 TV Technology’s StormTest platform with Accenture Digital Video Services, a unit that’s part of the company’s communications, media and technology group.
The acquisition should also boost Accenture’s profile with respect to the Reference Design Kit (RDK), the preintegrated software stack for IP-capable set-tops and gateways that’s being managed by Comcast, Liberty Global and Time Warner Cable. In 2013, S3 Group was tapped to oversee RDK Management LLC’s code management function, ensuring that contributions to the common code base are properly assessed, merged and tested before becoming part of RDK releases. S3 TV Technology is the unit of S3 Group that has been managing that key piece for the RDK. According to a spokesperson, RDK Mananagement LLC looks forward to its relationship with Accenture
S3’s known customers from the pay TV world include Sky (UK), Astro, BT, Comcast, Kabel Deutschland, Liberty Global, Mediacom Communications, RDK Management, Swisscom, Time Warner Cable, Videotron, and Starman, a TV and Internet provider in the Baltic region.
“I believe that Accenture will provide an excellent new home for our TV Technology business and its people, and I wish them continued success into the future” John O’Brien, CEO of Ireland-based S3 Group, said in a statement. “This announcement highlights S3 Group’s strategy and ability to create high-growth, market-focused businesses. We continue this exciting journey with our expanding Connected Health and Semiconductor Solutions businesses, and the creation of new businesses in the future.”
Mooreland Partners has acted as exclusive financial advisor to S3 Group.
The smarter way to stay on top of the multichannel video marketplace. Sign up below.
Thank you for signing up to Multichannel News. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.