French firm Netgem, a provider of connected home entertainment solutions to multi service operators, has continued its run of aggressive growth with the acquisition of Paris-based mobility solutions specialist PlugnSurf.
The latter company was founded in 2009 and has developed and marketed a mobile connectivity device called the WOBE, which incorporates a patented technology for automatic off-loading between mobile data (3G/4G) and WiFi networks.
The integration of PlugnSurf is expected to expand Netgem’s existing product offer and tap a broader market need to alleviate the growing congestion on mobile networks, particularly for video streaming.
The acquisition is described being is in line with Netgem’s international development plan, which particularly aims to develop new business with mobile operators seeking to differentiate themselves due to high competition in their core business.
Netgem reports that it continues to develop profitably, retains a “significant” capacity to make investments, and maintains its objective to double its international revenue by the end of 2014. The company will issue its first half results for this year in the week beginning July 23rd.
The company recently won a significant contract with Swedish pay-TV provider Viaplay to supply its new Viaplay Box – full details here.