Ericsson, which has acquired multiple new media companies over the past two years, has announced it plans to acquire entertainment metadata and rich media content supplier FYI Television, looking to leverage the company’s ability to help personalize content.
FYI Television accumulates and distributes TV entertainment content and linear scheduling data from over 9,000 TV networks daily, aggregating the information into customized formats for various digital, media, content, analytics and print clients for use on their connected devices such as tablets, phones, desktops, internet portals and gaming consoles.
Employees of FYI Television, based in Grand Prairie, Texas, will join Business Line Broadcast & Media Services, part of Ericsson's Business Unit Global Services, with the acquisition expected to close in Q1 2016. Terms of the deal weren't disclosed.
"As the TV industry evolves and viewing behavior changes, we believe that high-quality, rich metadata will be a key component for a personalized TV experience,” said Magnus Mandersson, EVP and Head of Business Unit Global Services at Ericsson. “FYI Television`s expertise and customer base in the U.S. is a great complementary fit for Ericsson and will be an integral part of our growth strategy. It will strengthen our position as one of the leading providers of media services in the world."
Earlier this year, Ericsson established a US broadcast and media services hub based in Atlanta, Georgia. The company currently provides closed captioning services to broadcasters around the world from this hub, with plans to roll out video description services over the coming months.
Ericsson has been steadily building its media business through acquisition.
Over the past three years, it’s purchased Red Bee Media, Microsoft’s Mediaroom, Azuki Systems and, in September, snatched up encoding specialist Envivio for $125 million, but has struggled to gain traction in the tough U.S. market.
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