SeaChange acquires eventIS

Video-on-demand and interactive TV technology specialist SeaChange International has acquired Dutch-based VOD and broadcasting software specialist eventIS for €25.5m initially, with three further annual payments of €1.2m to follw for the next three years. SeaChange will also issue stock of €800,000 annually for the next three years to eventIS shareholders.

EventIS provides software for metadata management and VOD, allowing broadband and broadcast TV channels to provide services across different platforms. The company had revenues of €13m in 2008.