eSynch and Streamedia Announce Planned Merger
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In a potential merger that could combine bicoastal workforces, eSynch Corporation of Tustin, California, and Streamedia Communications, Inc., a New York-based streaming media services company, have announced a Letter of Intent to form a streaming media and hosted services company.
Specific terms of the merger have not yet been disclosed, although in a public statement company officials stated that if the merger is approved, the combined companies will provide streaming media services that include hosting, web design, encoding, distribution, and customized site development.
The statement also added that both companies have pursued the merger agreement to capitalize on the booming streaming media marketplace that currently serves an estimated 35 million Internet services in the U.S. alone.
The exact location of the new business entity has not yet been determined.
According to research done by U.S. Bancorp Piper Jaffray, a subsidiary of US Bancorp, analysts recently concluded that streaming media is the next leading growth sector on the Internet and that in two to five years the Internet will resemble television of today in terms of audio and video quality, while enabling users to control the media viewing experience.
"With this merger, we have positioned ourselves to secure a strong hold in the streaming media sector," said Tom Hemingway, chairman and chief executive officer for eSynch. "Streamedia complements eSynch's current range of services offered, and we are confident that together we'll be able to capture a greater share of the U.S. market for stream media services."
A provider of media infrastructure delivery tools and services for the streaming video marketplace since1994, eSynch's flagship products include SiteStreamer, a broadband media player that allows web sites to stream video, and ChoiceCaster, an all-in-one media player designed specifically for the broadband Internet user that features updated content channels, an advanced media-only search engine, and a personalized video and audio library.