Chicago-headquartered tech company Infiniscene has been acquired by London Stock Exchange-listed content creation hardware and software company The Vitec Group and will be integrated in its California-based division Creative Solutions. Infiniscene does business as Lightstream and builds a cloud-native live video platform, broadcast software, and creator tools with specialization in the video game live streaming industry.
Vitec paid $21.9M USD in consideration for the acquisition upon its completion. Additionally, Vitec agreed to pay up to an additional $14M over the next three years in conjunction with the business transaction. The total costs of acquiring Lightstream, which reported $1.8M in revenues and an EBITDA loss of $2.6M in 2020, will be $35.9M.
Lightstream, which went through the Techstars Chicago Accelerator in 2015, currently maintains strategic partnerships and technology integrations with Microsoft’s Xbox and Amazon’s Twitch.
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Source: https://esportsobserver.com/vitec-group-acquires-lightstream/?utm_source=rss&utm_medium=rss&utm_campaign=vitec-group-acquires-lightstream
