Box acquires cloud-based file company Streem
Box is a cloud-based file management company that has acquired Streem. Streem is a startup that lets customers tram files to their desktop environments, which participated in the Y Combinator accelerator program.
Box said that the acquisition was made using a blend of cash and stock. Streem’s four employees will join Box. Streem’s product will be integrated into Box. Streem raised $875,000 in seed capital to build out its product. Box is a large cloud-based company that hit over $100 million in revenue in the last fiscal year.
“Streem has developed enhanced video and media streaming technology to ensure content is accessible from the cloud as fast as it is locally,” stated Box CEO Aaron Levie in a blog post. “For customers across data-intensive industries like Media & Entertainment, Oil & Gas, Healthcare, and Manufacturing, this means instant access to far larger volumes of data than what your local drives can support. For enterprises in regulated industries like Life Sciences and Financial Services, it means better protection and control of information and where it lives. While no specific timeline is set for when you’ll see Streem’s various technologies incorporated into Box, we’re excited to work with the team to rapidly make this happen.”
[Source: TechCrunch]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry