Acquisition Rounds Out Evolution’s Product Portfolio
Centennial, CO., July 20, 2015 – Evolution Digital LLC, a leading provider of digital solutions and next-generation hybrid IP/QAM set-top boxes, announced today that it will acquire i-Velozity LLC; a leading developer of innovative solutions for the cable television and Telco marketplace. i-Velozity’s low cost IP VOD platform enables cable companies and Telco’s to offer services that generate new recurring revenue. i-Velozity’s anytime, anywhere, any device content delivery supports individual and packaged video services and delivers them on demand. i-Velozity’s Subscriber Management Systems deliver end-to-end solutions including: billing, CRM, fulfillment and trouble ticketing.
“This acquisition marks the next step in Evolution’s on-going strategy to develop creative and cost-effective solutions for cable operators,” said Chris Egan, Evolution’s CEO. “With this acquisition we’ve obtained technology focused on the delivery of IP content to set-top boxes and connected devices that includes a deep library of VOD content along with the knowledge and expertise of over 30 software engineers. We are very excited about the opportunities this creates for both Evolution and our valued customers,” Egan added.
Panneer Ramalingam, i-Velozity’s Founder and CTO said, “After seeing the technology advancements Evolution has brought to the cable industry over the last five years, I am excited and look forward to growing i-Velozity’s technology solutions on Evolution Digital’s industry leading platform.”
“As one of the initial investors in i-Velozity, I am excited to transition our on-going operations to the capable hands of Chris Egan, Brent Smith and the entire Evolution organization”, commented Ken Anderson. “Having had a long relationship with the people at Evolution, we are confident the goals we’ve set will be continued and exceeded by the merging of the Evolution and i-Velozity technology teams,” added Anderson. “Through the valuable guidance of industry veteran and investor, Tom Gleason, we were able to make significant initial inroads in the American cable/Telco space.”
About Evolution Digital, LLC
Headquartered in Centennial, CO, Evolution Digital is the leading provider of digital solutions and next-generation hybrid IP/QAM set-top boxes to the US and international cable marketplace. Following our mission of continually providing highly functioning, cost effective solutions, has led to our industry leadership position. Partnering with best of breed organizations allows Evolution Digital to bring new and innovative products and services to market, faster than our competitors and provide industry leading service to our customers worldwide. For more information, visit http://www.evolutionbb.com.
About i-Velozity, LLC
With an executive office in Chicago and engineering offices in India, i-Velozity develops and sells innovative IP VOD solutions for cable and Telco markets. i-Velozity’s innovative and cost-effective VOD service brings the best on-demand video experience within the reach of most cable operators and telcos in North America. i-Velozity is a leading integrated video company with operations in India and USA. In the USA, the company’s product offerings include VOD, HLS linear encoding and mobile streaming. For more information, visit http://www.i-velozity.com.
# # #
For additional information, contact:
Marketing Manager, Evolution Digital