Cinedigm said it agreed to acquire FoundationTV, a company with direct-to-consumer streaming, artificial intelligence, machine learning and data analytics technologies.
FoundationTV, founded by computer and data scientists from Apple, Oracle, NEC and Yahoo, co-developed the Matchpoint technology platform that runs Cinedigm’s streaming channels.
Cinedigm said it plans to integrate the FoundationTV and Matchpoint platforms, and their software engineering teams, into a new division, Cinedigm India, which will be based in Kolkata, India.
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“As the media business rapidly shifts to highly personalized, direct relationships with consumers, the acquisition of FoundationTV’s comprehensive streaming technology platform gives Cinedigm the end-to-end technological capabilities to compete with anyone in the industry,” said Chris McGurk, chairman and CEO of Cinedigm.
Cinedigm India will begin developing a new branded global umbrella service that will showcase Cinedigm’s portfolio of more than 20 branded streaming channels.
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Cinedigm India will also build new experiences for the South Asian Market.
“We are excited to become a part of Cinedigm in taking the next leap redefining and transforming the streaming experience for consumers, scaling on a global footprint with Cinedigm content and building on our intelligence driven cloud-native streaming technology platform,” said Samrat Ganguly, founder of FoundationTV.
