Transatlantic cable operator Hibernia Atlantic announced this morning the acquisition of video transport and services provider MediaXstream. MediaXstream operates a Dynamic Transport Mode (DTM) network across 20 cities on both sides of the Atlantic, specializing in transporting full HD content between site and studio. Combining their assets with Hibernia's fiber footprint, both undersea and on land, will enable the extension of the video network to another 17 PoPs. This is not the first time we have seen these two companies together, back in March the two announced a substantial transatlantic capacity deal. Clearly they each liked what they saw.
MediaXstream is the newest brainchild of Del Bothof, who ran Vyvx for many years and then built Broadwing's DTM video networ, both of which wound up with Level 3 who didn't follow up on the DTM path. Bothof began again with MediaXstream, however the company is still quite young and this hasn't exactly been the greatest year to be looking for new customers. They say there is safety in numbers and that's probably true here as well, however this seems to be a very nice fit.
Readers of this blog may recall my own thoughts that Hibernia Atlantic might be an acquirer soon, but I must admit that while I had that part right I was nevertheless looking in the wrong direction. Rather than expand the geographical reach of its fiber, they are instead making a move on the video transport market. It seems to be part of the company's multi-pronged strategy to expand the company's addressable market beyond traditional wholesale undersea capacity. The first prong was the Global Financial Network they unveiled last year, staking out a position in the low latency market that has been so hot lately. With the purchase of MediaXstream the company now hopes to address content companies more directly as well.