The strategic acquisition will also enable Amagi to scale up investments in Eastern Europe and drive cloud innovation in the region in an accelerated manner
Amagi has said that it was committed to ensuring a smooth transition for Tellyo’s clients and employees
Amamgi entered the unicorn club late last year after raising a hefty $100 Mn funding from PE firm General Atlantic at a valuation of $1.4 Bn
Media-focussed SaaS unicorn Amagi has signed a definitive agreement to acquire UK-based Tellyo’s business for an undisclosed amount.
In a statement, Amagi said that the deal will bolster its offerings that cater to live sports and news broadcast segments. The acquisition of Tellyo, which offers remote production facilities, will enable Amagi to improve live video streaming and editing experience for customers globally.
In addition, the strategic acquisition will also enable Amagi to expand its footprint in Europe and scale up investments in the eastern part of the continent. The media SaaS major also expects the pact to drive cloud innovation in the region in an accelerated manner.
Tellyo has a research and development (R&D) centre in Poland, with offices in the UK and Finland. Amagi aims to leverage the startup’s knowledge base and team to further scale up its global ambitions.
Commenting on the development, Amagi cofounder and chief executive officer (CEO) Baskar Subramanian said, “We are excited about the opportunities this acquisition presents for Amagi. Tellyo brings a wealth of expertise, a strong team, and innovative products that align perfectly with our strategic vision of being a frontrunner in the cloud-based live broadcast technology space.”
Subramanian also added that the acquisition will enrich Amagi’s product offerings, bring more investments in the Eastern European region and create new ‘possibilities’ for local talent.
“This move is a testament to our commitment in delivering outstanding value to our customers, employees and investors . We believe that joining forces with Amagi will provide us with the resources and scale to reach new heights. We are excited about the potential of what both our companies can offer,” added Tellyo chief executive officer (CEO) Richard Collins.
The acquisition will enable Amagi to further strengthen its footprint in the Eastern European region. Just last year, the SaaS major established its first development centre outside India in Croatia.
Tellyo is Amagi’s second acquisition in the past year. In November 2022, the company also acquired US-based data platform for content distributors, Streamwise, for an undisclosed amount.
The transactions have largely come on the back of a hefty $100 Mn funding raised by Amagi in November last year from PE firm General Atlantic. The capital infusion pushed the company into the league of Indian unicorns as Amagi’s valuation skyrocketed to $1.4 Bn.
Founded in 2008 by Subramanian, Srinivasan KA and Srividhya Srinivasan, Amagi offers a full stack cloud suite for clients to create, distribute and monetise content globally. It also offers broadcast and targeted advertising solutions for broadcast and streaming TV platforms.
The SaaS unicorn claims to power more than 700 content brands and over 800 playout chains on its platform. Spanning 40 countries, Amagi has offices in global media hubs such as New York, London, Paris and Toronto.
Amagi caters to some of the biggest names in the media world including names such as Warner Bros. Discovery, NBCUniversal, A+E Networks UK, Curiosity Stream, among others.