Cloud technology company Synacor is partnering with Comcast subsidiary thePlatform as it attempts to realign its business and offer a more end-to-end integrated solution for delivering online video.
Synacor is hoping the new relationship will help it develop new business with TV programmers, operators and other major media companies.
The deal puts thePlatform, which offers a white-label online video platform supported by its back-end video management system, mpx, for multiscreen video workflow, policy management, and playback services. Synacor is hoping customers see mpx as a dovetail with its own Startpage offering, Search & Discovery/Metadata platform, and authentication service.
But there’s room for concern, as Synacor’s stock has taken a beating since it IPO’d in 2012, trading as high as $16.41, but plunging as low as $1.52 in the past 52 weeks.
The Buffalo-based company brought on Himesh Bhise as CEO in August. Since then, the company has seen a round of cost cutting and layoffs that went companywide, as Bhise has worked to expand the company’s portfolio, acquiring cloud TV platform NimbleTV in January.
Meanwhile, a group of disgruntled shareholders is pushing for the company to sell itself to the highest bidder, and have nominated three new candidates for the board.
It’s currently trading around $2.24.