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SeaChange International, Inc. (NASDAQ: SEAC) is a leading provider of premium video streaming solutions, enabling service providers, broadcasters, content owners, and brand advertisers to deliver billions of video streams across a variety of pay-TV and OTT platforms. With over 20 years of experience and as a three-time Emmy Award-winning organization, SeaChange empowers media businesses with the tools they need for content management, delivery, measurement, and analytics.
SeaChange offers a robust suite of capabilities designed to craft individualized, branded experiences for every viewer, ensuring high quality and value worldwide. Its core business involves not only managing and delivering content but also providing extensive measurement and analytics tools to enhance viewer engagement and business opportunities.
Recently, SeaChange has partnered with Univer Video to relaunch a streaming service featuring an exclusive video library, new live channels, and enhanced user experiences. This service will support multiple languages, currencies, and payment options, making it accessible to a global audience. The collaboration underscores SeaChange's commitment to empowering innovative content partners on an international scale.
In the financial realm, SeaChange's Board of Directors has authorized a stock repurchase program worth up to $2.25 million. Additionally, Tiber Ventures, Inc., formerly known as SeaChange International, has announced a modified "Dutch auction" tender offer to purchase up to $6.16 million of its common stock. This strategic financial maneuver aims to optimize shareholder value and reflects the company's robust financial health.
SeaChange's extensive experience, strategic partnerships, and innovative solutions make it a significant player in the media and entertainment technology industry. For more information, visit the company's website at www.schange.com.
SeaChange International (NASDAQ: SEAC) and Triller have mutually agreed to terminate their proposed merger, originally planned for completion by June 30, 2022. This decision comes as the merger could not be finalized before the termination date, and the parties opted not to seek an extension. SeaChange focuses on delivering video streaming and advertising technology, while Triller is known for its AI-powered social media and music creation platform. The immediate impact of this termination on SeaChange's operations and financials remains to be seen.
SeaChange International reported its fiscal first quarter results for 2023, showcasing a 33% year-over-year revenue growth to $6.7 million. However, revenue decreased by 22% sequentially from the previous quarter due to a one-time perpetual license sale. Gross profit fell 43% quarter-over-quarter but increased by 14% year-over-year. Non-GAAP operating expenses decreased 17% year-over-year to $4.7 million. The company ended the quarter with $16.5 million in cash and no debt. SeaChange continues to pursue its merger with Triller, set to close by June 30, 2022.
SeaChange International, Inc. (NASDAQ: SEAC) reported a strong fiscal Q4 2022, with total revenue at $8.6 million, reflecting a 20% increase from Q3 and a 67% year-over-year growth. Notably, product revenue surged by 49% compared to the previous quarter, driven by significant deals with Tier 1 operators, generating over $2 million in one-time revenue. The company achieved positive non-GAAP income from operations for the first time since the pandemic, signaling operational improvement. Fiscal 2022 revenue reached $27.3 million, up 24% from fiscal 2021, as gross profit also jumped 65%, indicating a solid recovery.
VIDAA USA and SeaChange International have announced a partnership aimed at enhancing the streaming and ad insertion capabilities of VIDAA tv. This collaboration will leverage the SeaChange Xstream platform to enable the fast channel playout and AVOD streaming to VIDAA-powered smart TVs and other connected devices. The initiative aims to facilitate content owners in launching FAST channels, broadening VIDAA's global reach and improving the customer experience through augmented advertising revenue streams.
Triller Fight Club has announced the TrillerVerz 5 'Lineage of Greatness' event on May 14 at the Forum in Los Angeles, featuring a legendary VERZUZ battle between Cypress Hill and Onyx. Tickets start at $31.00 and go on sale March 25. The event includes a boxing card with fighters like Sergey Kovalev and Kubrat Pulev, alongside the debut of Emiliano Vargas. Following a merger with SeaChange International (NASDAQ: SEAC), Triller aims to expand its innovative combat sports entertainment.
Triller announced the launch of 'So You Think You Can Fight,' a competition series produced by Nigel Lythgoe, aimed at discovering viral fighting talent. The series will air quarterly and feature fighters aged 18-28. Each season includes six episodes showcasing four fighters competing for progression, with viewers voting for their favorites. The series will also highlight hip-hop battles and other unique fight formats. Triller's innovative monetization strategies have resulted in major events, and the company is in discussions to finalize partnerships for broadcasting. This follows Triller's merger agreement with SeaChange International, Inc. (NASDAQ: SEAC).
Triller has agreed to acquire FightPFC, the Pillow Fight Championship, enhancing its combat sports offerings. This move aligns with Triller's strategy to build a comprehensive Web3 platform that includes AI-based social commerce and NFTs. Following recent acquisitions, this deal aims to leverage diverse creator content while targeting family-friendly audiences. Triller Fight Club has rapidly gained popularity, with over 3 million pay-per-view sales and a series of successful broadcasts. The merger with SeaChange International is also set to name the combined entity TrillerVerz Corp., listing on Nasdaq.
Triller has announced its Trillerverz 5 event, titled 'Lineage of Greatness,' happening at the Forum in Los Angeles on May 14, 2022. This exciting boxing showcase features iconic matchups from legendary boxing families, along with a Verzuz battle, streamed live on FITE and available on major cable networks. CEO Mahi de Silva highlighted past viewership successes, stating Triller has sold over 3 million Pay-Per-Views in the last year, making it a leading combat sports platform. The event will be priced at $29.99 for PPV access.
Triller has partnered with SIS and Combat Registry to enhance the Bare Knuckle Fighting Championship (BKFC) by providing exclusive data services for events including live and historical data analytics. The merger with SeaChange International (NASDAQ: SEAC) aims to transform the company into TrillerVerz Corp., with its stock expected to be listed on Nasdaq. The collaboration focuses on enabling sports betting, enhancing fan engagement through data-driven experiences, and supporting integrity efforts within the combat sports arena.
On February 28, 2022, Triller announced the acquisition of Bare Knuckle Fight Championship (BKFC), aiming to enhance its position in the combat sports sector. This follows Triller's previous acquisition of FITE, a global streaming platform associated with BKFC. Triller is set to merge with SeaChange International, Inc. (NASDAQ: SEAC), with plans for a new entity named TrillerVerz Corp. BKFC, established in June 2018, is the first regulated bare knuckle fighting organization in the U.S. since 1889. The acquisition is expected to synergize growth and mainstream acceptance of BKFC.
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