Cinedigm said it agreed to acquire FoundationTV, a company with direct-to-consumer streaming, artificial intelligence, machine learning and data analytics technologies.
FoundationTV, founded by computer and data scientists from Apple, Oracle, NEC and Yahoo, co-developed the Matchpoint technology platform that runs Cinedigm’s streaming channels.
Cinedigm said it plans to integrate the FoundationTV and Matchpoint platforms, and their software engineering teams, into a new division, Cinedigm India, which will be based in Kolkata, India.
“As the media business rapidly shifts to highly personalized, direct relationships with consumers, the acquisition of FoundationTV’s comprehensive streaming technology platform gives Cinedigm the end-to-end technological capabilities to compete with anyone in the industry,” said Chris McGurk, chairman and CEO of Cinedigm.
Cinedigm India will begin developing a new branded global umbrella service that will showcase Cinedigm’s portfolio of more than 20 branded streaming channels.
Cinedigm India will also build new experiences for the South Asian Market.
“We are excited to become a part of Cinedigm in taking the next leap redefining and transforming the streaming experience for consumers, scaling on a global footprint with Cinedigm content and building on our intelligence driven cloud-native streaming technology platform,” said Samrat Ganguly, founder of FoundationTV.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.