Video delivery, advertising, and streaming technology provider SeaChange International has named Peter D. Aquino as its new president and CEO effective as of yesterday.
Aquino joins SeaChange from Spartacus Acquisition Corporation, a special purpose acquisition company (SPAC), where he serves as chairman and CEO.
SPACs are companies set up to raise finance on the public markets on the strength of their expertise before they have announced a specific acquisition. Spartacus AC has just announced a business combination with GPS specialist NextNav, which is expected to close in Q4 2021. Aquino is expected to continue to serve as Spartacus AC’s chairman and CEO until this deal closes and will join the board of NextNav.
Aquino’s appointment comes after a difficult period for SeaChange, with revenues faling sharply during the pandemic. Previous CEO Yossi Aloni left the company unexpectedly in January, leading to Robert Pons being appointed as the company’s executive chairman.
Prior to Spartacus AC, Aquino held lead positions at a range of technology companies, including chairman and CEO of Internap Corporation, chairman and CEO of Primus Telecommunications Group, and President and CEO of RCN Corporation.
At RCN he is credited with leading the company’s transformation into an all-digital HDTV cable multiple system operator and creating an advanced metro-fibre network.
Aquino began his career at Bell Atlantic, now Verizon, and has served on public company boards including that of TiVo prior to its sale to Rovi in 2016.
“With our strong balance sheet, enhanced product portfolio, and continued momentum, this is the right time to attract a high-calibre leader like Pete to take SeaChange to the next level of growth and profitability. The Board and I have known Pete for many years and are confident that his experience and relationships with cable MSOs, telcos, vendors, and partners will benefit our team, customers, and ultimately drive value for our shareholders,” said Robert Pons, chairman of the board of SeaChange.
Aquino said: “I am very excited to join SeaChange at such a pivotal time in its growth and potential for new innovation given its decades of performance and software development. We have an opportunity to leverage SeaChange’s strong skillset and technology platform to continue to lean forward on strengthening our existing video and advertising capabilities, and accelerate our momentum as a leading provider of streaming services in a global TAM that is exploding. We will be executing in a tailwind of high-demand products and services, especially in video streaming and Ad Tech globally, and I really look forward to joining the team and rolling our sleeves up.”
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