Bangalore: Canada’s Broadband TV – a media and technology firm acquires kids’ digital content producing company YoBoHo for an undisclosed amount to enhance its kids' and family market's reach through YouTube. The acquisition is financially backed by RTL Group – a European entertainment firm – which owns majority stake in BroadBand TV (BBTV).
Incorporated in 2008 by Hitendra Merchant, YoBoHo – which is also known as Desimad – is headquartered in Vancouver. It mainly focuses on kids’ entertainment space and owns a YouTube kids and family network 'Hooplakids' including gaming network 'TGN', female lifestyle brand 'Kandesa' and hiphop music network 'Opposition'.
As per the deal, the YoBoHo's 55 employees including writers, mobile experts, marketers and technology team will join BBTV. Owning more than 8000 videos in kids vertical, YoBoHo claims to have three billion views per day.
Talking about the development, Hitendra, CEO of YoBoHo says, “The deal with BBTV, kids-focused MNC will expand our business footprints, improve our original content production efforts and scale our business by leveraging their cutting edge technology”.
Echoing in the similar veins, Shahrzad rafati, CEO, BBTV says, “We are very delighted to acquire a top player in the kids space, when the kids content vertical is experiencing burgeoning growth”.
Founded by Shahrzad rafati in 2005, BroadbandTV is a fast paced media and technology entity with more than 32000 channels and 10.5 millions video assets claiming four billion views in a month.