Enterprise cloud storage company Box has acquired Streem, a Y Combinator-backed startup that enables desktop users to stream files on-demand from the cloud.
The basic gist of Streem is to turn the cloud into an extension of a user's hard drive, and it's likely that Box found the ability appealing as it looks to attract large enterprise customers who are more familiar with desktop-style storage.
Financial terms of the agreement were not disclosed.
In a blog post announcing the deal, Box's Aaron Levie pointed out Streem's enhanced video and media-streaming technology as another enticing factor:
"For customers across data-intensive industries like Media & Entertainment, Oil & Gas, Healthcare, and Manufacturing, this means instant access to far larger volumes of data than what your local drives can support. For enterprises in regulated industries like Life Sciences and Financial Services, it means better protection and control of information and where it lives."
Given Box's unprofitable history, building out these segments could prove critical if it's going to adequately go toe-to-toe with competitors such as Dropbox or Google Drive.
As for Streem, the four-man team will make the move to Box, bringing with them all of the company's core technologies, its recently raised $875,000 in seed funding, and existing customers willing to stick around during the integration.
The Streem team said they are currently working on setting up a seamless migration plan to transfer user accounts to Box.
Streem was equally as idealistic as Box in its own blog post:
"It was clear after our first meeting with them that our visions for the future of cloud content were aligned. 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."
- Following months of speculation, Box files for IPO
- Box CIO Ben Haines on cloud vendor selection, talent, next-gen IT
- Box lands GE deal
- Box bolsters cloud platform for better scaling, adds new pricing plan
- Box taps former SAP SuccessFactors chief to run sales
- Box weaving together old, new alliances to build global partner network
- Box beefs up healthcare strategy with new advisors, CareCloud deal