NASDAQ OMX has acquired its corporate services partner, Stockholm-based Zoomvision Mamato (ZVM), amid heightened competition in the Nordic webcasting business from bigger rivals Thomson Reuters and Qbrick-Arkena.
The deal will give ZVM the moniker of authority carried by the NASDAQ OMX brand and help it to ward off competition from Sweden’s Qbrick, which acquired Denmark’s corporate webcasting leader Arkena in October to create Europe’s largest streaming media company.
Thomson Reuters has also been expanding its webcasting presence in Scandinavia and has high-profile clients in Nokia and Ericsson.
ZVM’s former main rival in Sweden Fronto, which counts companies like SCA, Loomis and Trelleborg as customers, would appear to be a potential target or partner in the increasingly competitive market.
Web video leaders
Scandinavian webcasting firms generally have more experience with web video due to residents in the region having the highest online video consumption in Europe. They are well positioned to grow as video webcasting expands in other European countries, and as smaller companies take to the practice.
However, potential competition from new do-it-yourself live streaming services is a threat to all of the corporate webcasting services.
“Being part of a global brand like NASDAQ OMX will give us the opportunity to reach a broader range of clients and allow us to offer them a full range of services that we couldn’t do on our own,” said ZVM CEO Marcus Walldén, who will now report to Demetrios Skalkotos, senior vice president of NASDAQ OMX’s corporate services group in New York.
ZVM says it has 180 clients, most of which are located in Sweden and include the likes of SAS AB, Volvo Group and Electrolux. The company’s webcasting platform is among the most advanced in Europe and ZVM has been an early adopter of social media. It also runs the innovative corporate webcasting portal IRFeed.com