Originally featured on BroadcastEngineering.com
Triveni Digital now independent
As part of the agreement, Triveni Digital will continue to develop technologies for LG Electronics' hospitality TV business.
Mark Simpson, president and CEO of Triveni Digital, feels like a new man. He and a group of Triveni Digital employees have bought out the majority of shares owned by parent company LG Electronics. The completed transaction makes Triveni Digital, which LG founded in 1997, a fully independent company, based in Princeton, N.J.
Simpson said he sees opportunity for growth across the company’s suite of OTA broadcast and cable program, Telco and IPTV video transport stream monitoring and remote diagnostic products over the next several years.
“We believe the industry is entering an exciting transition phase,” Simpson said. “Content consumption and viewing habits are changing rapidly, just as new technologies are emerging to address this pent-up demand.”
A key area of focus at the NAB Show is how Triveni Digital plans to help local broadcasters further exploit their infrastructure assets to earn new revenues from their news and other local content.
As part of the buyout agreement, Triveni Digital will continue to develop technologies for LG Electronics' hospitality TV business.
“We've always had a strong relationship with LG Electronics, and I expect that relationship to continue to grow,” said Simpson. “While we look forward to working with LG in the future, our independence will enable Triveni Digital to pursue new funding sources and partnership initiatives in order to implement our new business strategy. We expect to take a leadership role in helping local media providers generate new forms of revenue and enhance their service offerings, while partnering with many others in the industry on these initiatives.”
Triveni Digital provides metadata management, advanced content distribution, and video quality assurance systems, such as its popular StreamScope MPEG video transport stream monitoring and analysis platform, which includes tools for CALM Act compliance. The company’s key employees — including Dr. Richard Chernock, the company’s Chief Science Officer, who will deliver a technical presentation and chair a session during the Broadcast Engineering Conference (BEC) at the 2013 NAB Show in Las Vegas — maintain leadership roles in the ATSC and SCTE.