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Net Insight AB’s Sye Business Divested To Amazon


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Net Insight AB has closed the transaction to divest Sye, its consumer streaming business, to Amazon (NASDAQ:AMZN) for approximately SEK 350 million in cash. The transaction is effective from today and will remain effective this April at the 2020 NAB Show.

 

 

Last December, Net Insight AB signed an agreement to divest the Streaming Solution business area (Sye). Sye technology solves fundamental issues for B2C streaming distribution and Amazon has already deployed Sye in some of its live streaming services as a customer.

With the close of this transaction, 100% of the shares in the wholly-owned Sye business subsidiary, which holds all relevant IPRs, contracts and about 30 employees and consultants have been transferred to Amazon. The estimated net profit of the transaction will be some SEK 200 million in the first quarter of 2020.

The divestment allows Net Insight AB to increase focus and investments in its core B2B Media Networks business area and competencies gained while developing and launching Sye, for example, related to virtualized software and cloud-based technology, will continue to benefit the company. Among other things, the increased focus and investments involve accelerated efforts to drive growth in attractive market segments like Internet-based transport, remote /distributed production and cloud networking solutions.

 

About Net Insight

Net Insight is a global leader in media networks and resource optimization. With more than 20 years’ experience, Net Insight AB is a trusted and important partner and a leading force in the media tech industry in creating a better media experience.

Net Insight AB is powering the evolving media business in a connected world where technology enables seamless meetings between producers, distributors, and consumers of content – regardless of geographical location, technical resources or distribution network. With its deep market knowledge and insight, genuine customer focus and world-leading innovative technology, Net Insight makes it easier to create and deliver better content in a more reliable and effective way. Net Insight AB is driven by the idea that everything can always be done smarter, for both its customers and their customers, which will undoubtedly be attending the 2020 NAB Show in Las Vegas this April.

Visit Net Insight AB during the 2020 NAB Show at booth # SU4310.

For more information, visit www.nabshow.com/2020.


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