Danish private equity fund becomes Xstream co-owner
Editor | 18-02-2014
As it carries on with its current expansion plans, premium over-the-top (OTT) and TV everywhere service technology provider Xstream has revealed that Danish private equity fund Capidea has become its co-owner.
Stating that it has a focus on “completing generational change”, Capidea is a Danish private equity fund making long-term investments in competitive small and medium-sized companies. Explaining why it has become the majority shareholder of Xstream, Capidea partner, Nicolai Jungersen, said: "Xstream is a very exciting company with strong competencies and an innovative, market leading and unique product. Xstream has a scalable business model, making Xstream highly competitive, even against major global competitors.
"The success the company has had with its global expansion strategy, and all the new customers they have secured over the past two years, is a great indication and proof of their future success. We are convinced that Xstream has great growth potential and we look forward to contribute to the continued positive development of the company.”
Indeed only weeks ago Xstream expanded its North America operations, opening an office in Los Angeles and appointing a new vice president of sales for the region. With Capidea as co-owner, Xstream believes that it will gain extra muscle to further accelerate its global ambitions and bring its flagship MediaMaker video management system to new markets.
“Our professional video management streaming software, Xstream MediaMaker, has achieved great recognition in the industry and our proven track record and success has given us the courage and desire to compete with the major competitors, primary US competitors,” added Frank Thorup, Xstream CEO and co-owner. “With the new ownership structure we are stronger than ever and well prepared for future competition of winning new large international customers."