Private equity fund invests in OTT, TV Everywhere specialist Xstream
Xstream, the premium provider of OTT and TV Everywhere services, announced that the Danish private equity fund Capidea has invest in Xstream and become the majority shareholder in the company.
Over the recent years, Xstream has gone through a rapid development and has had huge success with its global expansion strategy, including major international customer wins, partnerships, establishment of new offices and winning several industry awards. With Capidea as co-owner, Xstream gets the muscles to further accelerate the company’s global ambitions and bring their award winning video management system, Xstream MediaMaker, to new markets. Xstream is now embarking on a large-scale international effort with a clear vision of further strengthening their position as the preferred provider of premium end-to-end video management system for delivery of simply smarter OTT and TV Everywhere solutions, worldwide.
“Our professional video management streaming software, Xstream MediaMaker, has achieved great recognition in the industry and our proven track record and success has given us the courage and desire to compete with the major competitors, primary US competitors. With the new ownership structure we are stronger than ever and well-prepared for future competition of winning new large international customers,” says Frank Thorup, CEO and co-owner at Xstream.
“Xstream is a very exciting company with strong competencies and an innovative, market leading and unique product. Xstream has a scalable business model, making Xstream highly competitive, even against major global competitors. The success the company has had with its global expansion strategy, and all the new customers they have secured over the past two years, is a great indication and proof of their future success. We are convinced that Xstream has great growth potential and we look forward to contribute to the continued positive development of the company,” says Nicolai Jungersen, partner at Capidea.
The newly appointed chairman of the Board, Lars Torpe Christoffersen, has also invested in Xstream. “I’m very impressed with Xstream as a company, their proven technology, and the global market position they have achieved. Frank has managed to build a company with a great foundation, remarkable potential and a solid and strong management team, which is why I have chosen to invest in the company,” says Lars Torpe Christoffersen, chairman of the board at Xstream.
The investment means that Capidea becomes the majority shareholder of Xstream. One of the former directors at the Danish telecommunications company, TDC, Lars Torpe Christoffersen, also invests in Xstream and becomes the Chairman of the Board for the company. Xstream’s CEO, Frank Thorup, will continue as CEO and as a significant minority shareholder.