Rok Entertainment, a mobile streaming video company, has acquired online video operator Jalipo in a shares deal valued at $16.8 million. Jalipo provides pay-per-view video on demand and live channels over the internet based on a system of credits.
Rok acquired 100% of Jalipo in exchange for 600,000 ordinary shares, valuing the paper deal at $16.8 million and boosting Rok stock by a third in value.
Rok Entertainment is based in Wolverhampton in the United Kingdom and was founded by serial entrepreneur Jonathan Kendrick.
Rok TV enables streaming of live and on-demand television to mobile phones over 2.5G, 3G and Wi-Fi networks.
“This acquisition is of great strategic importance to ROK as it furthers our presence in the mobile TV market,” commented Laurence Alexander, the chief executive of Rok, “There are significant synergies between Jalipo’s product offering and our own, which we look forward to incorporating within and, as a result, enhancing, ROK’s delivery portfolio.”
Jalipo was founded by Alex Taylor in 2004 and is based in London. The company has distribution deals with broadcasters including Aljazeera, BBC World, Bloomberg, CNN, EuroNews, France 24 and Sky News, among others.