Concurrent agreed to acquire Everstream Holdings, a developer of business intelligence software currently focused on the cable industry, for $15 million.
Everstream’s current products monitor and analyze operations and performance data from millions of digitally enabled subscribers for real-time analytics, historical reporting, and on-demand advertising. The company said its software is now deployed in seven of the largest North American cable companies.
Concurrent’s VOD systems are widely deployed worldwide by major broadband operators.
Concurrent, which has been an investor in Everstream since 2002, said it will operate Everstream as an independent, wholly owned subsidiary, ensuring that the privacy of data from customers and partners is protected with Everstream’s cross-platform solutions. This structure will allow Everstream’s partnerships with numerous cable industry operators and vendors, to continue to be fully supported.
“This acquisition signals our move into the broader market of business intelligence software that can extend into any network involved in real-time customer transactions. It is an initiative in concert with our focus on improving our quality of service for all the industries we serve. We believe there are markets in our real-time business such as finance, homeland security, and gaming that can benefit from Everstream’s business intelligence systems,” said Gary Trimm, Concurrent’s President and CEO.
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