Planetcast acquires OTT platform provider Switch Media

Media technology services provider, Planetcast, has acquired white-label OTT platform provider, Switch Media.

The undisclosed transaction has been finalised which will transfer full control of all Switch Media’s assets to Planetcast.

The Australia-based Switch Media delivers online streaming solutions, for major brands and live events across Asia-Pacific, Europe and the US. This includes the Summer and Winter Olympics, FIFA World Cup and Formula 1 for customers such as Foxtel Australia and Media Prima Malaysia.

Founded in 2006, Switch Media is one of Planetcast’s key partners, providing OTT solutions to the company. The acquisition enables Asia-based Planetcast to fully integrate Switch Media’s online video solutions with Planetcast’s unified platform, NexC.

“Switch Media is the perfect acquisition for Planetcast’s NexC platform, providing us with proven world-class OTT capabilities that are a vital cornerstone of our media services and solutions portfolio and one that will help us build out our international expansion strategy,” said Planetcast’s CEO, Sanjay Duda.

He added, “battle-tested across varied customer segments such as Pay TV Operators, broadcasters and Telcos, Switch Media’s OTT platform has successfully hosted some of the most sensitive global sports and entertainment properties. We welcome the Switch Media team to the Planetcast family. We are looking forward to more tightly integrating its feature-rich OTT solutions with NexC, our cloud-first unified-service platform, to ensure that our customers can streamline content operations and drive monetisation.”

Utsav Baijal, head of India private equity at Apollo Global, parent company of Planetcast, said: “Because Planetcast adds significant value to its Indian and Asian customers, we are actively looking for such synergistic cross-border, global transactions such as Switch Media as the most effective way to build their international footprint and capability set.”