The terms of the agreement remain undisclosed for now.
Cloud-based file management service Box announced Monday morning that it had acquired Streem, a startup that enables users to stream content directly to their desktops without the need for local storage.
“Streem has developed amazing technology that allows you to mount a cloud drive onto your computer,” said Box CEO Aaron Levie in a blog post, “[It] mak[es] documents, presentations, videos and files available to you without the limitations of your local hard-disk, effectively turning the cloud into an ‘unlimited’ drive.”
Unlike other file sharing services such as Dropbox or Google Drive, Streem allows users to natively access files in the cloud right on their desktop, without the need for any local storage. This capability effectively turns the cloud into an extension of a user’s hard drive.
“We’re happy to announce that… our core technologies will be incorporated into Box,” Streem founders wrote in a statement on their website. “With our technology, we’ll be able to provide businesses and teams with instant access to large volumes of data and faster ways to view their media content — all without filling up their hard drives.”
The terms of the agreement remain undisclosed for now, but Box told Techcrunch that it used a blend of cash and stock in the acquisition. Additionally, Techcrunch reports that the four members of Streem will join Box.
“We’re working on setting up a seamless migration plan to transfer everything in your Streem account to Box,” Streem said. “Alternatively, you’ll be able to request a copy of all your original files inside a zip file.”
Leave a Reply