Canada-based media and technology company BroadbandTV Corp (BBTV) has acquired YoBoHo New Media Pvt Ltd, which runs the HooplaKidz children's channel on YouTube, the company said.
BBTV is owned by European entertainment network RTL Group.
The acquisition will further bolster BroadbandTV's original content offering and strengthen its overall position as a multi-channel network on YouTube, spanning genres across gaming, kids & family, music and entertainment.
Founded in 2008, Mumbai-based kids content producer and publisher YoBoHo maintains a library of over 8,000 videos in the kids vertical. The firm claims it generates 3 billion views per year.
Post acquisition, BBTV's average monthly views will be over four billion per month, reaching around 50 billion views per year.
"YoBoHo has launched 27 channels featuring original programming produced in house reaching a global scale. We have successfully built whole ecosystems around kids' content, which has led us to become a top player in the space. We have significant plans to develop this further," said Hitendra Merchant, founder and CEO, YoBoHo.
BBTV, one of the top three non-music YouTube networks globally, provides brand solution, content distribution, content legitimisation, content discovery, advertising, smarter programming, etc.
"We're very pleased to conclude the acquisition of a top player in the kids' space 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 added.
"With significant investments in multi-channel networks, RTL Group has become the number two player in the YouTube ecosystem in less than 24 months. BroadbandTV currently represents two-thirds of RTL Group's online video views, and its acquisition of YoBoHo is another milestone in our joint efforts to achieve leading positions in all segments of the rapidly growing online video space," said Guillaume de Posch, co-CEO of RTL Group.
S&R Associates acted as the legal advisor to BroadbandTV Corp on this acquisition.
(Edited by Joby Puthuparampil Johnson)