Mumbai : BroadbandTV, a media and technology company based in Canada, has acquired kids content producer and publisher YoBoHo for an undisclosed sum.
The acquisition is financially backed by the European entertainment firm RTL Group, which is a major investor in BroadbandTV (BBTV).
The acquisition includes more than 8,000 videos that YoBoHo produces as well as HooplaKidz, a preschool and K-12 educational network on Youtube.
“All 55 YoBoHo employees will join BBTV, including producers, writers, marketers, technology and mobile experts, and a strong business development team,” the company said in a release.
“The acquisition…is happening at a time when the kids’ content vertical is experiencing burgeoning growth,” said Shahrzad Rafati, founder and CEO, BroadbandTV.
“BBTV is also making a multi-million dollar investment in YoBoHo to further expand its library of original content, broaden its international footprint, and further diversify its revenue streams,” he said.
According to a Nielsen research report, online viewership of such shows by kids has increased by 87%. “With the current growth in digital medium, even the online channels are posing a serious competition to the offline medium,” said Ajay Shah, partner, transaction advisory services, at Ernst & Young.