Press releasesJune 9, 2010
Propulsion Ventures, Canada’s leading software-focused venture capital fund and part of the Telesystem group, is pleased to announce the sale of portfolio company StreamTheWorld, a global content delivery network focused on the broadcast industry, to Triton Digital Media, the leading provider of digital applications, services and content to the broadcast industry. Prior to the acquisition, Triton Digital and Propulsion were the largest StreamTheWorld shareholders.
“We are pleased with the transaction which delivers excellent returns for our LPs while providing superior value to our partner and co-investor Triton Media,” said David Bernardi, Venture Partner, Propulsion Ventures. “By purchasing StreamTheWorld, Triton Media acquires a ready-to-integrate market leader in the broadcasting industry led by a top-notch management team. Finally, we are also proud to have fostered the creation of over 70 high-tech jobs in Montréal, a nucleus of expertise around which Triton Media will build.”
Simultaneous with the acquisition, Triton Media will merge operations of StreamTheWorld with its Ando Media subsidiary to create The Ando Media Group which will be headed by StreamTheWorld CEO Yves Eric Laliberté.
About Propulsion Ventures
Founded in 1995, Propulsion Ventures is a top tier venture capital firm with $200 million under management. Propulsion actively invests in promising early-stage software companies in Quebec and Ontario. Propulsion Ventures, based in Montreal, is one of five Telesystem venture capital firms that operate worldwide. Telesystem has offices in Montreal, Boston, London and Johannesburg.
About Triton Media Group, LLC
Triton Media Group, LLC is the leading supplier of digital products and services to the media industry. Its Triton Digital division (www.tritondigital.com) supports more than 6,000 radio station affiliations with applications and content. Through its Triton Radio Networks division, Triton owns and operates Dial-Global, which provides sales representation services to national radio production companies, producing more than 100 different programs and services in addition to providing syndicated programming and services to radio.
StreamTheWorld provides streaming technology and services to online broadcasters. The company streams over 2,000 radio and television stations in 25 countries. It currently teams with some of North America’s biggest broadcasters to enhance their online presence and increase revenues. StreamTheWorld’s fully integrated solutions include Player Development, Advertising, Media Delivery and Management, and Analytics.
About Ando Media
Ando Media is the leading provider of real-time audience measurement and ads management solutions for the internet audio market. Ando Media is committed to enabling its clients to monetize their digital assets: audio, online, video and mobile. For more information visit www.andomedia.com.