Technology company Deltatre has been acquired by investment companies Bain Capital and Nextalia SGR.
Financial details of the deal have not been revealed, however Bloomberg reported in April that Deltatre could be valued at around $1 billion. The deal is subject to regulatory approvals.
Deltatre’s streaming service is used by a number of broadcasters and OTT companies, including ITV, as well as UEFA, NFL, MLB and MLS.
According to the company, 20 per cent of internet users globally have engaged with a digital product from Deltatre and its OTT solutions have approximately 25 million end users per day. It is expected to generate $180 million in revenue in 2022.
Andrea Marini CEO of Deltatre, will continue to lead the business with the existing management team and remain a significant shareholder in the company.
Speaking about the deal, he said: “It’s never been a more exciting time for the media and sport industries. Rapid technological innovation in how content is produced, distributed, and consumed has opened new opportunities for rights owners to monetise and reach their fans globally, and Deltatre sits at the heart of this shift. I am excited to welcome Bain Capital and Nextalia SGR as our new partners as we enter this exciting chapter in our company history.
“From the start it has been clear that they share many of the same core values that are held by the wider Deltatre community and that have contributed to our long-standing reputation as the premier technology provider for many of the world’s most recognisable brands,” added Marini. “I’m extremely grateful for the support of George Pyne and the team at Bruin Capital. They have been a terrific partner over the last six years, and we have achieved great things together.”