Blackbird PLC (AIM:BIRD, OTCQX:BBRDF) said a global broadcast company has licensed its core video technology for a 5-year period.
It is the first Original Equipment Manufacturer (OEM) licensing deal for Blackbird and is worth at least an estimated €2mln (around £1.7mln) over the contract length.
The unnamed customer is globally recognized as a leader in live video technology for broadcast and new media productions and has millions of viewers daily, Blackbird said.
"We are thrilled with this deal, which breaks new ground for Blackbird and demonstrates the value of our world class patented IP outside of the selling of the Blackbird platform,” said chief executive Ian McDonough.
“Under this first technology licensing contract, the OEM partner will use the core Blackbird video technology to provide the basis for their own advanced on premise and cloud native editing platform, extending its use into new product areas. They will sell the editing software as an integral part of their broadcast production suite to their customers around the world."