Vestel, a leading Turkish manufacturer of consumer electronics and appliances, has acquired a 4.64% ownership stake in VIDAA, a global TV platform. This strategic investment is part of Vestel's ambitious plan to integrate VIDAA into its Smart TVs and energy solutions, marking a significant step in its journey to become a provider of integrated solutions rather than just a manufacturer of devices.
Vestel's CEO, Ergün Güler, highlighted the importance of the partnership in aligning with the company's global vision. "As the first Turkish company to take such a significant step in the world of TV platforms, we have achieved a major milestone in our global growth strategy," he stated. "By partnering with VIDAA, the world's second-largest TV platform, we have taken a significant step towards our international goals."
VIDAA, a subsidiary of Hisense, the world's second-largest TV manufacturer and the largest in China, has a global footprint, exporting its products to over 160 countries. With over 30 million connected devices worldwide, VIDAA is recognized as the fastest-growing platform in 2023, according to Futuresource Consulting.
Guy Edri, CEO of VIDAA, emphasized the platform's commitment to open collaboration. "When we established VIDAA, we promised our partners that VIDAA will be the most open platform in the industry and will welcome all partners to join as we will never compete with our OEM partners, content providers, and advertisers," he said. The transaction is expected to be completed by the end of the year.