International, Inc. (NASDAQ: SEAC), a leading global multi-screen
video software innovator, today announced that it has completed the sale
of its broadcast server and storage business. The sale to the new
independent company XOR Media closed today following customary
SeaChange CEO Raghu Rau commented, “This sale is an important part of
our strategy to transform SeaChange into a pure play software company.
Now that the transaction is complete, we can focus on our core software
and services operations, including our next generation back office,
video streamers, gateway software and advertising solutions.
Rau added, “As much of the same team and superior products remain in
place, customers can expect a smooth transition and seamless support
from XOR Media in the future.”
XOR Media CEO Zheng Gao agreed, “XOR Media is a new business entity in
name, but the same team and processes are here to ensure business
continuity for our customers. The feedback we have been receiving on XOR
Media is very encouraging, and we are excited to launch new
opportunities for XOR Media’s open, cloud-capable, and media-optimized
servers and storage.”
About SeaChange International
Ranked among the top 250 software companies in the world, SeaChange
International (NASDAQ: SEAC) enables transformative multi-screen video
services through an open, cloud-based, intelligent software platform
trusted by cable, IPTV and mobile operators globally. Personalized and
fully monetized video experiences anytime on any device, in the home and
everywhere, are the product of the Company’s superior back office,
advertising, content and in-home offerings.
SeaChange’s hundreds of customers are many of the world’s most powerful
media brands including all major cable operators in the Americas and
Europe, and the largest telecom companies in the world. Headquartered in
Acton, Massachusetts, SeaChange is TL 9000 certified and has product
development, support and sales offices around the world. Visit www.schange.com.
About XOR Media
XOR Media develops high-performance, open, IT storage, specialized for
media applications and private cloud data centers used by broadcasters,
content providers, and media companies. Formerly SeaChange Broadcast,
XOR Media carries over an installed base of over 300 top-tier customers;
12,000 channels on air; and 11PB of managed data. It operates globally
with over 180 employees.