Multiscreen video services provider SeaChange International is set to acquire TLL, LLC which does business as Timeline Labs.
Timeline Labs provides a rapidly deployed content management platform that enables its customers to discover, curate and display geographically targeted news stories that are trending across social media sites (Facebook, Instagram, Twitter, etc.) with visualizations that are ready for air on television and over-the-top.
Under the terms of the definitive agreement, SeaChange will pay $14 million in cash, $8 million in shares of SeaChange stock, and up to an additional $2.5 million in deferred performance-based consideration payable in shares of SeaChange stock.
“Timeline Labs’ success demonstrates that social media can be captured for the advantage of the television industry, bringing concrete, new value by truly reflecting and serving the current mindset of their specific audiences,” explains SeaChange CEO Jay Samit. “While the broadcast segment represents an accretive growth opportunity for SeaChange, the Timeline Labs platform will allow us to extend the social news paradigm to multiscreen television service providers, so they can easily launch ready-made and differentiated live or on-demand content packages tailored to the interests of their subscribers.”