Ericsson intends to acquire FYI Television, the entertainment metadata and rich media content supplier based in Grand Prairie, Texas.
The acquisition, which is subject to customary closing conditions, will strengthen Ericsson's position in broadcast and media services.
FYI Television accumulates and distributes TV entertainment content and linear scheduling data from over 9,000 TV networks daily, aggregating the information into customized formats for various digital, media, content, analytics and print clients for use on their connected devices such as tablets, phones, desktops, internet portals and gaming consoles.
Combining FYI Television's US-market expertise in metadata, conversion and integration services with Ericsson's in these areas in Europe “will create a powerful global force in content discovery.”
"As the TV industry evolves and viewing behavior changes, we believe that high-quality, rich metadata will be a key component for a personalized TV experience,” said Magnus Mandersson, EVP and head of business unit global services at Ericsson. “Combined with our capabilities in TV platforms and content discovery, we will be able to help our customers to improve the video experience and identify new revenue opportunities.”
Mandersson said FYI Television's expertise and customer base in the US is a great complementary fit for Ericsson and will be an integral part of the latter’s growth strategy.
FYI Television's employees will join business line broadcast and media services, part of Ericsson's business unit global services, with the acquisition expected to close in this quarter.