Media technology unicorn Amagi on Tuesday said it has bought California-based Streamwise, a data platform for content distributors, to bolster its data analytics capabilities.
This is Amagi’s first acquisition since inception. The startup has more deals in the pipeline that it expects to finalise over the next 12-18 months, co-founder and chief executive officer (CEO) Baskar Subramanian had told VCCircle last month.
The acquisition comes days after Amagi said it had raised over $100 million from global private equity firm General Atlantic at a $1.4 billion.
Bengaluru-based Amagi did not disclose the size of the all-cash deal. As part of the deal, Doug Shineman, CEO of Streamwise, will join the unicorn to lead business development for its new analytics vertical.
The media-tech startup has merged Streamwise and its team with its own, Amagi said in a response to VCCircle. The firm further plans to add Streamwise’s capabilities as a stand-alone offering in its product suite.
“What content brands need now more than ever is information at their fingertips. The genius of Streamwise’s data platform lies in its simplicity and accessibility, making it an excellent value addition to Amagi’s ad offerings,” Subramanian said in a statement.
Amagi, founded in 2008 by Subramanian, Srinivasan K.A. and Srividhya Srinivasan, helps media companies create, distribute and monetize streamed content across cable, satellite, and over-the-top media service.
With the latest acquisition, the startup is intending to bridge the data aggregation gap for content distributors that are using multiple channels and ways to distribute content.
“Content brands, as part of their distribution and monetization agreements, are often left with data and metrics from a variety of platforms in multiple formats that need to be consolidated to provide a holistic view of how their content is generating revenue,” Amagi said.
The media-tech startup will integrate proprietary and third-party data in a centralised and automated manner to help its customers with useful insights.
“Our combined offering will help content distributors make smart decisions and scale their business in the streaming economy by saving content, sales, marketing, and finance executives from repetitive, manual, and error-prone processes,” said Shineman.
Amagi turned a unicorn in March this year, following a $95 million funding round led by Accel, with participation from Norwest Venture Partners and Avataar Ventures. Recently, the company expanded its presence in Asia. foraying into South Korea.
It already has a presence in New York, Los Angeles, Toronto, London, Paris, Melbourne, Singapore, and broadcast operations in New Delhi. It also has an innovation center in Bengaluru. The startup’s clients include media giants such as NBCUniversal, CBS, USA Today, and Japan’s Rakuten Group.