Conditional access firm NDS has led a US$20m funding round for BlackArrow, a California-based developer of advanced advertising solutions for on-demand TV platforms.
The two companies have also formed a strategic alliance to offer an integrated suite of…
Conditional access firm NDS has led a US$20m funding round for BlackArrow, a California-based developer of advanced advertising solutions for on-demand TV platforms.
The two companies have also formed a strategic alliance to offer an integrated suite of advanced advertising solutions and services. As part of its strategic investment, NDS will have a seat on the BlackArrow board of directors.
Existing investors who also participated in what was BlackArrow’s third round of financing, included Cisco Systems, Comcast Interactive Capital, Intel Capital, Mayfield Fund and Polaris Venture Partners.
Proceeds from the investment are to be used to expand BlackArrow’s product development and accelerate the deployment of its advanced advertising system to programming networks and on-demand television content providers across North American and international markets.
“We have aligned ourselves with partners and investors that not only share BlackArrow’s vision but also stand behind us by providing a firm financial platform that ensures our ongoing success,” said Dean Denhart, CEO of BlackArrow. “This investment further solidifies our long-term ability to help operators and programmers monetise on-demand content globally by leveraging the international expertise, footprint and complementary technologies of NDS, while assuring continued traction and execution in the marketplace.”
Dr. Abe Peled, CEO and chairman of NDS Group, added: “The ability to deliver timely, addressable advertising to on-demand audiences presents a major revenue-growth opportunity for operators and programmers worldwide.”
The move represents NDS’ first major investment since private equity firm Permira (51%) and media giant News Corp (49%) took the company private in February 2009. That transaction was funded by a US$1.3bn syndicated debt facility split between a US$960m senior term tranche and a US$340m mezzanine loan.