Benzinga | Nov 29, 2021 08:04AM EST

SeaChange Secures Multi-Million-Dollar Contract Renewal With Major U.S. Multiple-System-Operator

SeaChange International, Inc. (NASDAQ:SEAC), a leading provider of video delivery, advertising, and streaming platforms, has 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."