Tuesday, 05 February 2019 05:50

Switch Media acquires Swedish firm in bid to expand in Europe

By
Switch Media chief executive Mark Johns. Switch Media chief executive Mark Johns. Supplied

Content streaming service Switch Media has turned its attention to Europe, acquiring Swedish media systems integration consultancy Mediasmiths AB as part of its growth plans.

Sydney-headquartered Switch said in a statement that the acquisition would add to the services it provided, ranging from consultation and delivery to ongoing services for broadcasters and content owners in Europe.

Mark Johns, the chief executive of Switch Media, said: “Europe is well and truly at the inflection point with rapid growth expected over the next few years, and Western Europe OTT TV episode and movie revenue set to hit more than US$23 billion by 2023.

"This is almost double the revenue of last year, which sat at about US$12 billion across 18 countries.

“It makes sense for us to have a strong presence in Europe as part of the wider global expansion plans that we have embarked on in recent times and Mediasmiths presents an ideal way for us to grow.”

Mediasmiths AB came into being in 2011 as a wholly owned subsidiary of Mediasmiths International. It became independent after a management buyout in 2014.

Switch Media's acquisition does not include Mediasmiths Asia Pacific, another independent company, based in Australia, which is a separate entity.

Said Johns: "Mediasmiths is a well-established consulting company which, much like Switch Media, has developed a strong track record in delivering great results on the toughest of projects for its customers.

“Through their contribution in defining and implementing the cloud architecture for our server-side ad insertion solution, AdEase, it was apparent that the expertise at Mediasmiths was complementary to Switch Media and that we shared similar team values of integrity and innovation.

“It was clear that integrating the two companies presented greater growth prospects and would also deliver significant benefits to the customers of both.

“The larger organisation we become as a result of the acquisition, will allow us to provide more depth to the current services and products offered by both teams.”

The company will be renamed Switch Media, but will continue operating as usual in the immediate future. Staff will remain in Stockholm and all existing business relationships will be fully supported and serviced.

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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