Munich, February 29th, 2016 – After a wildly successful decade Elgato sells the EyeTV business to Geniatech Europe GmbH, a wholly owned subsidiary of Shenzhen Geniatech Inc., Ltd. Geniatech will take over the complete EyeTV product line and continue to develop and expand both hardware and software offerings. Shenzhen Geniatech Inc., Ltd and Germany-based Geniatech Europe GmbH are experts in the TV business with more than 15 years of experience and a worldwide reach. With this transaction Elgato completes its transformation from a PCTV solutions provider to a specialist for app-enabled lifestyle accessories.
“We are certain that EyeTV has found a capable and competent new home with Geniatech,” says Markus Fest, CEO of Elgato. “It was very important to us to find a partner who can ensure EyeTV’s future.”
“We proudly assume responsibility for the premier brand in the PCTV and mobile TV business,” says Mike Decker, GM of Geniatech Europe. “We have substantial plans for EyeTV. Both existing and future customers can look forward to exciting innovations around DVB-T2/HEVC and apps for Apple TV, Amazon Fire TV, and Google Nexus Player Android TV. We are also planning the next generation of award-winning EyeTV 4 software with a new and modern user experience.”
Elgato’s focus in recent years has been on Gaming and the Connected Home. As these markets developed, EyeTV slowly turned into the smallest of Elgato’s core business segments. The EyeTV sale allows Elgato to accelerate development efforts in these exciting growth markets.
Elgato creates app-powered lifestyle accessories that entertain and enlighten. We combine elegant software with innovative hardware, designed and developed by Elgato engineering and product teams in Germany and California. Our market-leading EyeTV line has won numerous awards since its launch in 2002. Elgato Gaming revolutionizes content creation for the connected generation on YouTube and Twitch. Elgato products are available at major retailers in more than eighty countries. Elgato is privately held with headquarters in Munich, Germany.
Parent company of the Geniatech Europe GmbH is the privately held Shenzhen Geniatech Inc., Ltd., the leading ODM / OEM manufacturer for smart TV -and video platforms for all areas of daily entertainment.Through consulting, development, design and manufacturing excellence Geniatech supports its customers and partners ecosystems in more than 42 countries. Geniatech supplies platforms, has realized innovative solutions from the industrial design in hardware and software for all operating (Windows, OSX, Apple TVOS, Android and Linux) & entertainment systems including smarte & mobil TV platforms, IPTV / OTT middleware integration, APP / APK application Design, IPTV / OTT DRM integration for Microsoft PlayReady, Verimatrix, and Widevine and according to international standards certified manufacturing services. www.geniatech.com, www.geniatech.eu
Geniatech Europe GmbH
Dürener Straße 340
PRfection for Elgato
Münchener Str. 25
+49 (89) 30904930-16