Australian online video technology company Switch Media has expanded into Europe with the acquisition of Swedish systems integrator Mediasmiths AB.
Switch is best known in Australia for its technology involved in streaming content and ads for Australia’s free-to-air TV networks as well as for cable TV group Foxtel.
The European acquisition sees Switch now operating in seven worldwide markets including Australia, New Zealand, India, United States, Africa and Asia.
Chief executive officer of Switch Media, Mark Johns, said Mediasmiths AB presented the company with a solid platform to expand into the European market.
“Europe is well and truly at the inflection point with rapid growth expected over the next few years, with Western Europe OTT TV episode and movie revenue set to hit more than $23 billion by 2023. This is almost double the revenue of last year, which sat at around $12 billion across 18 countries.”
“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,” said Johns.