LONDON (Alliance News) - YOLO Leisure and Technology PLC Wednesday said it has paid GBP550,000 for a 5.1% stake in Simplestream Ltd, a business-to-business provider of live streaming and live-to-video on demand services.
According to the AIM-listed leisure and tech investor, Simplestream's technology enables broadcasters to securely live stream broadcast content to any device and deploy complex 'catch-up' services with ease across several platforms.
It said the company's broadcast clients include Discovery Networks, Scripps Networks and Turner Broadcasting. It also owns and operates TVPlayer, a live TV aggregator of more than 50 free-to-air channels.
YOLO said that Simplestream's revenue has doubled year-on-year since its products and solutions were introduced to the UK market in 2012.
"Live video streaming is the fastest growing element of over-the-top services, and targets the increasing trend to watch broadcast and video on demand programming on devices other than the traditional TV set. Live video streaming is also an 'on-ramp' for VoD viewing, accelerating OTT growth. The company now delivers services across Europe and North America with further international expansion planned for 2015," YOLO siad.
YOLO shares were up 3.4% at 3.05 pence on Wednesday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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