Jigsee Inc., a Toronto-based provider of adaptive video streaming technology for wireless devices, has been acquired by Milpitas, California’s Vuclip Inc. The financial terms of the transaction were not disclosed. Jigsee, which was founded in 2008 and is a former client of innovation centre MaRS Discovery District, obtained funding from angel venture capitalists. This activity included a Series A financing from the Indian Angel Network, a network of India-based angels investors, in 2011.
Vuclip, the world’s largest independent mobile video and media company, today announced that it has acquired the core assets of Jigsee, a mobile video streaming company, for an undisclosed sum. Vuclip’s vision is to provide mobile video for consumers worldwide, regardless of device type or network quality, and by extension, deliver value to strategic business partners such as content providers, advertisers and carriers. To further this vision, these core assets will bring to Vuclip considerable mobile app development talent, as well as additional proprietary video streaming technologies.
Consumers will now benefit from more ways to discover and experience mobile video content. Vuclip plans to offer new apps to complement its browser strategy, particularly in India, the Middle East and South East Asia.
“Jigsee saw the same huge opportunity that we did. Consumers in emerging markets are more often than not using low-cost smartphones, such as the Asha Series from Nokia or Android devices from Samsung, on constrained networks. This is a huge audience for the mobile ecosystem to reach — but requires creative problem-solving to ensure a quality user experience,” said Nickhil Jakatdar, CEO of Vuclip. “Vuclip tackles this problem with unique technology innovation on the browser side, while Jigsee approached it primarily with an application-based approach. The combination of these two will now deliver optimal value to consumers — on both feature phones and low-cost smartphones — as well as business partners in a way that no one else has done before and will accelerate our reach into new markets.”
“It is inspiring to see Vuclip deliver on its ‘All Things Video’ strategy so aggressively and quickly,” said Jeff Karras, Managing Director, SingTel Innov8. “With more than 45 million monthly unique users, a viable monetization strategy and strong leadership, Vuclip is positioned to capitalize on the massive growth in mobile video.” SingTel Innov8 is one of Vuclip’s investors.
For millions of people around the world, Vuclip is an essential part of their daily lives. Vuclip serves video on-the-fly, on any device, and in any country, providing unparalleled reach for its partners. Every day Vuclip delivers more than 25 million videos to consumers all over the world. Vuclip is headquartered in Milpitas, California with offices in New Delhi, Mumbai, Singapore, Dubai, Shenzhen and Beijing. Check out Vuclip on your phone: m.vuclip.com.
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