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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.
On February 22, 2022, SeaChange International (NASDAQ: SEAC) filed a registration statement with the SEC for its proposed merger with Triller Hold Co LLC (TrillerVerz). The transaction aims to create a combined company listed on Nasdaq under the new ticker 'ILLR'. Following the merger, SeaChange will be renamed TrillerVerz Corp. Both companies aim to enhance value for shareholders and develop innovative platforms for creators. However, the SEC must approve the Registration Statement before the merger can proceed.
SeaChange International is merging with Triller Hold Co LLC, creating TrillerVerz Corp., expected to be valued at approximately $5 billion. The merger will shift SeaChange to focus on cable, streaming, and advertising. Upon completion, the ticker symbol will change from SEAC to ILLR. The deal, anticipated to close in Q1 2022, highlights TrillerVerz's aim to become a leader in the AI-driven creator economy with significant user engagement, driving over 750 million interactions monthly. Both companies foresee enhanced advertising capabilities and global expansion through this strategic alliance.
SeaChange International, Inc. (NASDAQ: SEAC) reported strong financial results for Q3 2022, with a 9% sequential revenue growth and a 44% year-over-year increase, totaling $7.2 million. The company secured a multi-million-dollar contract renewal with a major U.S. multiple-system-operator. Operating expenses decreased 14% sequentially, supporting profitability objectives. The company ended the quarter with $17.6 million in cash and no debt. Leadership changes included the appointment of Peter D. Aquino as President and CEO, aiming to enhance growth in video and advertising while prioritizing streaming products.
SeaChange International (NASDAQ: SEAC) will host a conference call on December 14, 2021, at 5:00 p.m. Eastern Time, to discuss its financial results for the third quarter ended October 31, 2021. A press release with the financial results will be issued before the call. Interested parties can join the call by dialing 877-407-8037 for U.S. callers or 201-689-8037 for international participants. The call will also be available for replay through the company’s website.
SeaChange International (NASDAQ: SEAC) has secured a multi-million-dollar contract renewal with a major U.S. multiple-system operator. This renewal supports high-margin recurring revenue over the next two years and validates SeaChange's strategy of servicing existing customer relationships while tapping into the Ad Tech and streaming markets. The company will enhance the MSO's content management capabilities, handling up to 350,000 video on demand assets annually. Executives underscore the renewal as a testament to its value proposition and the strong foundation built on a healthy balance sheet and deep technical expertise.
SeaChange International (NASDAQ: SEAC) has appointed Peter D. Aquino as its new President and CEO as of September 27, 2021. With over 30 years in the technology, media, and telecommunications sectors, Aquino is expected to drive growth during a critical transition to tech-forward solutions for cable and streaming clients. The Board expressed confidence in his ability to enhance the company's product offerings and shareholder value. Prior to this, he successfully led Spartacus Acquisition Corporation and held key positions at several major tech firms.
SeaChange International reported strong financial results for the fiscal second quarter ended July 31, 2021, showing a 29% sequential revenue increase to $6.5 million and an expanded gross margin of 63%, up 700 basis points. The growth was driven by their focus on video streaming and Ad Tech markets. The company introduced its StreamVid platform and signed significant contracts with Screen iL and Chicken Soup for the Soul Entertainment. SeaChange ended the quarter with $18.9 million in cash and no debt, while reducing operating expenses by 17%.
On September 13, 2021, Crackle Plus, a subsidiary of Chicken Soup for the Soul Entertainment (CSSE), launched an enhanced Popcornflix app powered by SeaChange International (SEAC). The new app features an updated user interface and improved streaming capabilities, offering free content across various genres.
Key enhancements include advanced advertising technology and improved search functionalities. This partnership aims to provide a superior user experience and pave the way for potential international expansion of Popcornflix services.
SeaChange International, Inc. (NASDAQ: SEAC) will hold a conference call on September 13, 2021 at 5:00 p.m. ET to discuss its Q2 financial results for the period ending July 31, 2021. The financial results will be released prior to the call. Interested participants can join by dialing 877-407-8037 (U.S.) or 201-689-8037 (International). This call allows for a question-and-answer session following the discussion. Investors can also access a replay of the call through the investor relations section of SeaChange’s website.
SeaChange International (NASDAQ:SEAC) will present at the 10th Annual Gateway Conference, held virtually on September 8-9, 2021. Management is scheduled to speak on September 9 at 2:00 p.m. Eastern time, with additional one-on-one meetings throughout the day. The presentation will be accessible via live webcast and available for replay. SeaChange, a provider of streaming video services and advanced advertising technology, collaborates with operators and content owners globally to enhance video experiences and monetization strategies.
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