TransGaming buys interactive TV division from Oberon Media
Toronto-based interactive entertainment company TransGaming has acquired the Interactive TV and Connected TV division of Oberon Media, a New York-based operator of game services and a creator and distributor of games for the interactive and connected TV market. The deal is expected to close on Jan. 6. The aggregate purchase price of the assets is approximately US $7 million. The agreement includes distribution agreements with a number of Smart TV manufacturers and cable, satellite and interactive television service providers including Dish Network and DirectTV in North America and Reliance Digital TV and AirTel Digital TV in the Indo-Pacific region. In addition, Oberon Media's catalog of approximately 100 video game titles will be added to TransGaming's GameTree service. "With the strategic acquisition of Oberon Media's ITV and Connected TV division, TransGaming cements its position as the clear leader in the delivery of video games to the connected living room," said Vikas Gupta, CEO and president of TransGaming. "We now have the ability to reach the hundreds of millions of set-top boxes currently deployed in living rooms globally, while also defining a clear migration path for service providers to bring high quality gaming to their subscribers as they deploy next generation devices. We have immediately increased our total addressable market for GameTree TV and have created a compelling value proposition unmatched by any other company in this space."