Endavo, an Atlanta-based OTT (over-the-top) and multimedia technology provider, has been acquired by entertainment executive Ozzie Areu of Areu Bros. Studios. Prior to founding his own studio, Areu served as President at Tyler Perry Studios for a decade, overseeing almost $1 billion in production.
The acquisition amount remains undisclosed. Endavo formerly raised $2.1 million, according to Crunchbase.
OTT technology indicates streaming services offered directly to viewers over the internet, bypassing traditional cable and satellite providers. Think Netflix, Hulu, or HBO Go.
Endavo has been offering its video delivery services to clients, including the Metro Atlanta Chamber and Binge Networks, for 12 years.
Along with the acquisition, the company is officially rebranding all of its services into one turnkey offering, which they call the Video Distribution Automation (VDA) platform. It combines streaming optimization, creator self-distribution options, social media integration and more into one single interface.
Endavo will retain its 18 employees, including CEO Paul Hamm, and Atlanta, Bulgaria, and Uruguay offices.
Areu will join the company’s board of director’s to help spearhead direction, enter new markets, and expand content and distribution partnerships.
“Endavo is a revolutionary platform that has been working within our ecosystem to develop new models of distribution,” Areu said in a statement.
“For me, this unique match is perfect for the evolution of our business plans,” he said. A representative for the studio says that they are continuing to vet additional tech opportunities.
Areu announced the formation of his new studio venture, which he founded with his brother Will, last year. Also based in Atlanta, it is the first Latino-owned major film and television studio in the U.S. and will offer 60 acres and 200,000 square feet of studio space right outside the city.