TV technology company Net Insight is to devote more resources to its low-latency live streaming solution Sye, which the company says will require a new capital contribution in the autumn.
Net Insight says it is “currently evaluating the size and potential forms of the capital contribution” required for the product. The company says it has struck a licensing agreement with an unnamed Fortune 500 company for the product as well as the support of three CDN providers.
“We assess that Sye has a technology advantage that will create a window in the market in 1-2 years’ time, when we’ll be able to establish Sye as the industry standard and gain significant market share, with solid profitability in the long term. To do this, we need to approach and onboard major customers to a significantly greater extent than today, which necessitates increased commercial and development resources,” said Net Insight CEO Henrik Sund.
The company’s renewed focus on Sye comes as it reports net sales of SEK128.5 million for the second quarter, up 7.5%, or 2.1% adjusted for currency movements.
Operating earnings amounted to SEK3.3million, compared with a loss of SEK12.9 million last year.
In addition to Sye, Net Insight produces core product Nimbra, its media gateway, and scheduling software ScheduALL, which it acquired in 2015.
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