SeaChange International Inc. (SEAC) stock plunged by 2.83% in the last trading closed whereas the SEAC stock is on a rise by 25.24% during current market trading after SEAC announced that they have signed a huge multi-year deal of millions of dollars with one of the biggest broadband service providers in USA. SeaChange International is a publicly-traded multinational video distribution software provider. Video preparation, back-office, media resources management, dynamic advertising insertion, analytics, and a user interface are all part of SeaChange’s “System.
What is happening?
SeaChange’s technology has allowed this major broadband service provider to adapt to technological advances in the industry for over 15 years. Under the terms of the new agreement, SEAC would collaborate with the customer to shift its infrastructure to a virtual network that will reduce the operator’s hardware footprint and also increase the service availability. By utilizing SeaChange’s technology to enhance the management of its Ad Servers through remote operator device installations and hardware health management, the customer’s TV service offering can be more monetized.
Christoph Klimmer the SVP of Global Sales and Marketing, SEAC said that Long-term customers, such as this major broadband service provider, are growing their use of SEAC’s technology and are rapidly gaining from their ad technology, which enables cross-platform and dynamic advertisement solutions for cable and IP video distribution. He also added that this significant contract between SEAC and the major broadband service provider includes both license and service parts and has one of the highest average annual prices of any North American contract in over two years. Also, the success illustrates SeaChange’s status as a trusted partner to the world’s most prominent companies, demonstrating SEAC’s efficient go-to-market strategy and comprehensive approach to selling the full value of our software and services.