Accedo Acquires CloverLeaf, Makes Good on Promise to Expand into NY

9/26/12Follow @jpruth

Accedo Broadband, a Stockholm-based developer of technology for smart televisions and IPTVs, says it has fulfilled its plans to establish a New York branch.

Wednesday morning the company announced it acquired Brooklyn’s CloverLeaf Digital for undisclosed terms. The deal gives Accedo an immediate New York presence, and CloverLeaf, according to its founder Lawrence Brickman, gains the means to scale up its operations. “We wanted to be larger, more muscular, and have more resources available to us,” he says.

CloverLeaf, founded in 2003, develops services such as a personal dashboard and app store for the interactive television market in North America. Its customers, Brickman says, are largely independent cable television operators and telephone companies who provide TV services. With demand growing among CloverLeaf’s clients for TV Everywhere, an initiative to make shows accessible online to subscribers, and to push content to connected devices such as tablets and smartphones, Brickman needed to expand. “The scope just got too big,” he says. “We could be more effective as a larger company.”

Brickman will lead the New York team for Accedo, which also has offices in Mountain View, Los Angeles, London, Hong Kong, Madrid, and Sydney. Accedo develops technology such as software that automatically recognizes content being watched on TV, and then recommends apps relevant to the shows or commercials on screen. CloverLeaf had already served as a distributor for Accedo’s Funspot games in North America.

Brickman expects the CloverLeaf brand to be retired next year after a transition period.

João-Pierre S. Ruth is the editor of Xconomy New York. He can be reached at jpruth@xconomy.com and followed on Twitter @jpruth. Follow @jpruth

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