A group of financial investors, led by a U.S.-based venture firm, is buying SeaChange’s broadcast server and storage business for an undisclosed amount. The new, independent company will be named XOR Media, headed by Zheng Gao, president of SeaChange Storage and Servers, who was named CEO.?

VantagePoint Capital Partners’ Terry Chen, whose portfolio companies have participated in this investment, explains, “The proliferation of digital media presents a huge upside potential for XOR Media. We are excited about the synergy the new company brings with our other holdings including the Blue Whale File System utilized by XOR Media’s high performance Universal MediaLibrary storage. We see this as a key investment with the tremendous potential of XOR Media’s products, technologies, and people resources, operating independently and in partnership with SeaChange.” ??

SeaChange says it now will focus on its core software and services operations, including its next-gen back office, video streamers, gateway software and advertising solutions. ??Notes SeaChange CEO Raghu Rau, "This divestiture is an important part of our strategy to transform SeaChange into a pure-play software company, significantly reduce our overall cost structure, and strengthen our ability to compete in delivering next-generation multiscreen video solutions, while generating cash.” ??

He continues, “It’s important to note that this sale is not a parting of ways between SeaChange and the new company XOR Media. We will continue to work together to offer our customers a complete solution. We see this divestiture as a step toward a future relationship – not the ending of one.”  ?

Once the deal closes, SeaChange will be able to offer its customers server and storage products from any company, including XOR Media, as part of its intelligent video platform. The company also says it will continue to provide customer service and support to all of its VoD streaming service provider customers. It also will provide customer service and support to any customers who purchase storage products as part of its reseller agreement with its former division. ?

The Daily


FCC Chair Tees Up Apartment Broadband Competition Item

Cable has to contend with FCC Chair Jessica Rosenworcel circulating a proposal that would prevent providers from entering into exclusive revenue sharing agreements with building owners as part of changes aimed at bringing competition to MTEs.

Read the Full Issue
The Skinny is delivered on Tuesday and focuses on the cable profession. You'll stay in the know on the headlines, topics and special issues you value most. Sign Up


Jan 28
Cablefax 100 – 2022 Nominations Due: January 28, 2022
Mar 11
The FAXIES 2022Entry Deadline: March 11
Apr 1
Cablefax Top Ops – 2022Nominations Due: April 1, 2022
Jun 3
The Diversity List – 2022Nomination Deadline: June 3
Aug 12
Most Powerful Women – 2022Nominations Due: August 12
Full Calendar


Seeking an INDUSTRY JOB?

Hiring? In conjunction with our sister brand, Cynopsis, we are offering hiring managers a deep pool of media-savvy, skilled candidates at a range of experience levels and sectors, The result will be an even more robust industry job board, to help both employers and job seekers.

Contact John@cynopsis.com for more information.