SEAC stock is running higher in early trade on December 14, 2021, as rumors circulate that the company is in talks to merge with Triller. Triller is a TikTok rival.
SeaChange in talks to take Triller public via merger, Bloomberg says
On December 13, 2021, Triller, a social-video platform that considers itself a rival to TikTok, is in talks to come public via a merger with SeaChange International and a deal could be announced as soon as this week, Bloomberg’s Gillian Tan reports, citing a personal with knowledge of the matter. A deal is set to value Triller at a premium to its most recent valuation of $1.25B, according to Pitchbook, Tan says, noting that it’s possible negotiations could fall apart at the last minute. Source: https://www.bloomberg.com/news/articles/2021-12-13/triller-the-social-video-app-said-in-seachange-merger-talks
Triller is a competitor to ByteDance’s (BDNCE) TikTok platform. The Triller app has counted former President Donald Trump and entertainers Roddy Ricch, Eminem, and Alicia Keys as users.
📺 VIDEO TikTok rival Triller is ‘seeing crazy growth’: CEO
Back on August 7, 2020, CNBC’s Julia Boorstin spoke with Triller CEO Mike Lu about its app and competitors, TikTok and Instagram Reels.
SeaChange International Sets Third Quarter Fiscal 2022 Conference Call for Tuesday, December 14 at 5:00 p.m. ET
BOSTON, Dec. 09, 2021 (GLOBE NEWSWIRE) — SeaChange International, Inc. (NASDAQ: SEAC), a leading provider of video delivery, advertising, and streaming platforms, will hold a conference call on Tuesday, December 14, 2021 at 5:00 p.m. Eastern time to discuss its financial results for the third quarter ended October 31, 2021. Financial results will be issued in a press release prior to the call.
SeaChange management will host the conference call, followed by a question-and-answer period.
Date: Tuesday, December 14, 2021
Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
U.S. dial-in number: 877-407-8037
International number: 201-689-8037
Meeting Number: 13725442
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at 949-574-3860.
🤑 SeaChange Secures Multi-Million-Dollar Contract Renewal with Major U.S. Multiple-System-Operator
On November 29, 2021, SeaChange International (NASDAQ: SEAC) announced that it secured a multi-year, multi-million-dollar contract renewal with one of the largest multiple-system-operators (MSOs) in the United States.
SeaChange is uniquely positioned to service this customer as the Company’s software solutions have helped this MSO manage content processing workflows at scale for over a decade to seamlessly ingest up to 350,000 video on demand (VOD) assets annually. Under the renewed contract, SeaChange will provide premium support and services for the MSO to further streamline and optimize its content chain. This will include the automated orchestration of content workflows for VOD services and over the top (OTT) platforms across multiple back-office systems that have distinct business and publication rules. SeaChange ensures the highest support quality for its customers by using containerized technology that allows for easily deployable operating system updates.
“The contract renewal is another testament of our ability to continuously provide an enduring value proposition for our longstanding customers,” said Chris Klimmer, Senior Vice President and Chief Revenue Officer. “Our superior software solutions go hand-in-hand with our proven customer engagement model, which is centered around delivering premium support and services to ensure our systems perform seamlessly and at the highest efficiency at all times. In addition to exemplifying SeaChange’s position as a trusted partner to Tier 1 operators globally, the renewal also demonstrates our success in driving new and expanded recurring revenue streams for SeaChange, as the total contract value will be recognized ratably over the term.”
Peter Aquino, President and Chief Executive Officer, added: “Since I joined the company two months ago, I have been incredibly impressed by our team’s ability to maximize the value of our longstanding customer relationships while also expanding our customer base and revenue opportunities in the high growth streaming and Ad Tech markets. Long term, we believe that our healthy balance sheet, deep technical expertise, and valuable software solutions will serve as a strong foundation to strengthen our value proposition and to further win market share in the growth sectors of our industry.”
SeaChange International (NASDAQ: SEAC) provides first-class video streaming, linear TV and video advertising technology for operators, content owners and broadcasters globally. The SeaChange technology enables operators, broadcasters and content owners to cost-effectively launch and grow premium linear TV and direct-to-consumer streaming services to manage, curate and monetize their content. With its unique advertising technology, SeaChange helps to protect existing and to grow new and incremental advertising revenues for both traditional linear TV and streaming services. SeaChange enjoys a rich heritage of nearly three decades of delivering premium video software solutions to its global customer base.
📺 VIDEO WALLSTREETBETS: $SEAC Stock deal to merge with TikTok rival Triller/Stock Market News/Stocks to Buy
WallStreetBets gave his analysis on SEAC on December 13, 2021.
SEAC Stock Technical Analysis
SEAC is one of the better-performing stocks in the Software industry, it outperforms 98% of 339 stocks in the same industry. Volume is considerably higher in the last couple of days, which is what you like to see during a strong move up. The surging large players volume is very bullish. SEAC is currently trading in the middle of its 52-week range. The S&P500 Index however is currently trading near new highs, so SEAC is lagging the market. There is a support zone ranging from 1.01 to 1.02. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. There is a resistance zone ranging from 1.71 to 1.73. This zone is formed by a combination of multiple trend lines in multiple time frames. Although SEAC has an excellent technical rating, it does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when SEAC stock is a good buy or sell.