YOLO (AIM:YOLO) announces that it has invested £550,000 in cash to acquire a 5.1 per cent interest in Simplestream Limited (“Simplestream”)
YOLO (AIM:YOLO), the AIM listed company investing in leisure and technology, announces that it has invested £550,000 in cash to acquire a 5.1 per cent interest in Simplestream Limited (“Simplestream”), a leading B2B provider of live streaming and live-to-Video on Demand (“VoD”) services.
Simplestream’s technology enables broadcasters to securely live stream broadcast content to any device and deploy complex 'catch-up' services with ease across multiple platforms. The company’s broadcast clients include Discovery Networks, Scripps Networks, Box Television, QVC, Turner Broadcasting and At The Races. Simplestream also owns and operates TVPlayer, a live TV aggregator of more than 50 free-to-air channels.
Such is the growth in demand for live streaming services, Simplestream has seen 100% revenue growth year-on-year since its products and solutions were introduced to the UK market in 2012. Live video streaming is the fastest growing element of Over-the-Top (“OTT”) services, and targets the increasing trend to watch broadcast and Video on Demand programming on devices other than the traditional TV set. Live video streaming is also an 'on-ramp’ for VoD viewing, accelerating OTT growth. The company now delivers services across Europe and North America with further international expansion planned for 2015.
Simon Robinson, CEO of YOLO, commented: “We are delighted to have taken a strategic investment into this high growth and dynamic business. It is complementary to our strategy of investing in talented and visionary leadership teams that utilise technology to create value for customers. Simplestream is well positioned to capitalise and expand into this new and rapidly growing sector. This is our second investment after eSports business Gfinity."