TransGaming, the Toronto-based company that distributes interactive games for playing via set-top boxes and other platforms, has purchased the Interactive TV & Connected TV division of Oberon Media for about $7 million, which includes $3 million on closing, $2 million in earn-outs based on revenue thresholds and the issuance of 4 million shares of TransGaming.
Oberon Media operates, creates and distributes games for the interactive and connected TV market.TransGaming said the acquisition was strategic, since it will result in the company’s reach extending to over 50 million households. Oberon’s distribution network includes agreements with connected TV manufacturers as well a network of cable, satellite and interactive TV service providers that includes Dish Network and DirecTV in North America, and Reliance Digital TV and AirTel Digital TV in the Indo-Pacific region through third-party distribution agreements.
The agreement also adds Oberon Media’s catalog of more than 100 platform casual games to TransGaming’s GameTree TV portfolio.
“We now have the ability to reach the hundreds of millions of set-top boxes currently deployed in living rooms globally, while also defining a clear migration path for service providers to bring high quality gaming to their subscribers as they deploy next generation devices,” Vikas Gupta, chief executive officer and president of TransGaming, said in a statement. “We have immediately increased our total addressable market for GameTree TV and have created a compelling value proposition unmatched by any other company in this space.”
Bob Hayes, president and chief operating officer of Oberon Media, said his company will continue to distribute games to connected and interactive TVs via TransGaming’s global network, but that it will focus its primary efforts on its recently launched Blaze ecommerce platform.
Press release – http://tinyurl.com/6quvzy8Image is of TransGaming Studio’s official Twitter icon