Internet Solutions: Significant stake bought in Antfarm

Internet Solutions had bought a significant stake in Antfarm, a local provider of streaming media, for an undisclosed sum, the parties said yesterday. Greg Montjoie, the executive for the carrier and connectivity business units at Internet Solutions, has forecast that video content will be a key driver of the internet economy over the next few years. “Streaming media services, particularly video content, are growing at double-digit growth rates, both in the consumer and business space.” The companies have an established working relationship but believed that a strategic acquisition would provide an advantage in the local industry. As an internet service provider, Internet Solutions aims to take a leading role in local media streaming. Andrew Aitken, Antfarm’s sales and marketing director, said the business would expand aggressively with access to Internet Solutions’s cloud computing and network infrastructure. It has developed bespoke products to deliver organisational online broadcasting services in audio and video. It will retain its staff and management. – Asha Speckman