Iliad Group-owned Play bought a majority stake in online video delivery platform provider Redge Technologies for an undisclosed sum, a move the operator noted would aid development of its own streaming service.
The deal sees Poland-based operator Play take a 92.5 per cent stake in Redge, which provides platforms for building and delivering online video services used by mobile operators and content providers.
Its systems are available on premise and as platform-as-a-service architecture and use Edge compute. Customers include Play itself, Canal+, Warner Bros. Discovery group unit TVN and the TV3 Baltics group.
The Poland-based broadcast technology company claims to be the “leader in OTT and edge compute technologies in Central Europe”. In 2021 it generated revenue of €7.5 million.
Among the benefits of the acquisition cited by Play include continued development of its video streaming service PlayNOW. It also claimed the tie-up would open development opportunities for Redge elsewhere in Europe.
Redge founder Przemyslaw Frasunek retains the remaining 7.5 per cent stake in the broadcast business and signed-up to extend his term as president of the company for a further five years from the date of acquisition (30 June).
Play plans to keep the management team and structure of the newly bought business intact.Subscribe to our daily newsletter Back