ViewCast said it has retained Silverwood Partners to help it evaluate strategic alternatives for growth.
Silverwood, a boutique investment bank specializing in digital media, has been involved in a number of broadcast industry M&A deals and has strong industry ties.
This is the first publicly announced strategic move by new CEO David Brandenburg, who replaced John Hammock in June 2013. Brandenburg, has been a Viewcast investor and board member since 2008, and was named chairman in April 2013.
Viewcast, which provides media streaming solutions, has struggled to achieve profitability over the past several years.
For the full year 2012, Viewcast posted a net loss of $1.5m, compared to a net loss of $3m in 2011. The company’s 2012 revenue was $12.1m, down 14% from $14.1m in 2011.
In the first quarter of 2013, Viewcast posted a net loss of $458,000 in the first quarter of 2013 on revenue of $2.4m
“ViewCast is a market leader in the development of industry-leading solutions for the capture and streaming of video over enterprise, broadband and mobile networks,” said Brandenburg. “In order to take full advantage of the market opportunity and maximize our business potential, we plan to review the full range of strategic alternatives that better position the company for growth.”
Press Release: ViewCast Retains Investment Banking Firm Silverwood Partners, LLC
Press Release: Technology and Communications Industry Veteran David Brandenburg Named CEO at ViewCast
Press Release: ViewCast Reports 2013 First Quarter Results
Press Release: ViewCast Reports 2012 Fourth Quarter, Year-End Results
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