LONDON: SEEEN plc, a global media and technology platform specializing in AI-driven video optimization, said Monday it has agreed to acquire Streaming Ltd., which trades as MEDIAL, for up to £1.2 million in a move that immediately expands its presence in the education and enterprise video training markets.
The acquisition of the profitable video platform gives SEEEN a recurring customer base of more than 50 universities and corporate organizations, the company said. MEDIAL generated unaudited revenue of £640,000 and adjusted profit before tax of £210,000 for the fiscal year ended April 30, 2025.
SEEEN will pay an initial £1 million, consisting of £950,000 in cash and 1 million new ordinary shares issued at 6 pence per share. Deferred consideration of £200,000 is payable in equal quarterly installments over two years, subject to no warranty claims. Completion is expected by April 30.
The acquisition is expected to be immediately accretive to earnings, the company said. Pro forma combined revenue for 2025 would have exceeded $6 million with adjusted EBITDA of $500,000 across more than 100 customers, 95% of whom produce recurring or repeat income.
MEDIAL founder Robert Thomas will join SEEEN’s leadership team and, along with SEEEN CEO Adrian Hargrave, is providing new loan capital to the Group. A new investor has also taken an equity stake at a 50% premium to the current share price.
SEEEN separately raised £130,000 from a strategic investor through a subscription of 2,166,667 new ordinary shares at 6 pence per share. Hargrave and Thomas are providing loan capital of £225,000 and £100,000 respectively, carrying 10% annual interest with three-year maturity. The company will issue 3.25 million warrants in connection with the loans.
“The acquisition of MEDIAL is a strategically important step for SEEEN,” Hargrave said. “It gives us an immediate customer foothold in the academic and enterprise video training markets through an established, profitable and highly regarded platform.”
Thomas said combining MEDIAL’s video infrastructure with SEEEN’s AI capabilities “will deliver a much more powerful offering to both existing and new customers.”
The joint offering will launch with American Leak Detection to train technicians in installing digital water monitoring devices. The corporate e-learning market is projected to exceed $300 billion by 2030, according to the company.
Application has been made for the new ordinary shares to be admitted to trading on AIM, with dealings expected to begin around April 24.
SEEEN trades on the London Stock Exchange’s AIM market under the symbol SEEN.