£550,000 Investment in Simplestream Limited
04 February 2015
YOLO (AIM:YOLO), the AIM listed company investing in leisure and technology, announces that it has invested £550,000 in cash to acquire a 5.1 per cent interest in Simplestream Limited ("Simplestream"), a leading B2B provider of live streaming and live-to-Video on Demand ("VoD") services.
Simplestream's technology enables broadcasters to securely live stream broadcast content to any device and deploy complex 'catch-up' services with ease across multiple platforms. The company's broadcast clients include Discovery Networks, Scripps Networks, Box Television, QVC, Turner Broadcasting and At The Races. Simplestream also owns and operates TVPlayer, a live TV aggregator of more than 50 free-to-air channels.
Such is the growth in demand for live streaming services, Simplestream has seen 100% revenue growth year-on-year since its products and solutions were introduced to the UK market in 2012. Live video streaming is the fastest growing element of Over-the-Top ("OTT") services, and targets the increasing trend to watch broadcast and Video on Demand programming on devices other than the traditional TV set. Live video streaming is also an 'on-ramp' for VoD viewing, accelerating OTT growth. The company now delivers services across Europe and North America with further international expansion planned for 2015.
Simon Robinson, CEO of YOLO, commented: "We are delighted to have taken a strategic investment into this high growth and dynamic business.It is complementary to our strategy of investing in talented and visionary leadership teams that utilise technology to create value for customers. Simplestream is well positioned to capitalise and expand into this new and rapidly growing sector. This is our second investment after eSports business Gfinity."
For further information please contact:
|YOLO Leisure and Technology plc||www.yoloplc.com|
|Simon Robinson||[email protected]
|Cairn Financial Advisers LLP
|Sandy Jamieson||Tel: +44 20 7148 7900|
|Peterhouse Corporate Finance Limited
|Eran Zucker / Lucy Williams||Tel: + 44 20 7469 0930|
|Walbrook PR Ltd||Tel: +44 20 7933 8787|
|Paul McManus||Mob: +44 7980 541 893|
Notes to editors
YOLO Leisure and Technology plc
YOLO Leisure and Technology plc aims to focus on opportunities in the travel, technology and leisure sectors. The Company's Investing Policy is that the Company will invest in businesses which have some or all of the following characteristics:
- strong management with a proven track record;
- ready for investment without the need for material re-structuring by the Company;
- generating positive cash flows or imminently likely to do so;
- via an injection of new finances or specialist management, the Company can enhance the prospects and therefore the future value of the investment;
- able to benefit from the Directors existing network of contacts; and
- the potential to deliver significant returns for the Company.
Simplestream, founded in 2010, has grown to become a leading provider of multi-platform live streaming and CatchupTV services for the broadcast and media industry.
From its London Media Hub, Simplestream currently streams over 80 channels from broadcasters such as Discovery Networks, Scripps Networks, Box Television, QVC, Turner Broadcasting and At The Races. Simplestream's services are optimised for the sports, music, news, entertainment and teleshopping sectors.
In 2014, Simplestream launched TVPlayer, a new live TV service that lets you watch live TV for free.