Technology company Deltatre has been acquired by investment companies Bain Capital and Nextalia SGR.

Financial details of the deal have not been revealed, however Bloomberg reported in April that Deltatre could be valued at around $1 billion. The deal is subject to regulatory approvals.

Deltatre’s streaming service is used by a number of broadcasters and OTT companies, including ITV, as well as UEFA, NFL, MLB and MLS.

According to the company, 20 per cent of internet users globally have engaged with a digital product from Deltatre and its OTT solutions have approximately 25 million end users per day. It is expected to generate $180 million in revenue in 2022.

Andrea Marini CEO of Deltatre, will continue to lead the business with the existing management team and remain a significant shareholder in the company.