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Box Announces Streem Acquisition; Dropbox Reportedly Buys Parastructure

Box Announces Streem Acquisition; Dropbox Reportedly Buys Parastructure

By Robin Sinha | Updated: 17 June 2014 15:26 IST

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Popular cloud-based file management services, Box and Dropbox, have made new acquisitions. While Box has announced its acquisition of Streem, Dropbox is currently only report to have acquired Parastructure and kept it a secret.

On Monday Box confirmed its deal with Streem, a Y-Combinator-backed startup that lets users stream content from cloud storage directly on the computers, via a blog post by Aaron Levie, CEO of Box.

Levie talks about Streem's media streaming technology, which can be accessed as quickly by users on the cloud as they do locally. "And to further optimize the experience and support low-bandwidth environments, Streem has developed enhanced video and media streaming technology to ensure content is accessible from the cloud as fast as it is locally," stated Levie.

When contacted by TechCrunch, the firm declined to comment anything about the terms of the agreement. However, in an email, Box confirmed that it bought Streem with the both cash and stock. It remains to be seen what Box will offer its users in the future after its association with Streem.

While Box has officially declared its acquisition, Dropbox on the other hand is keep its reported acquisition of Parastructure a secret.

Parastructure is a startup firm that builds data-analysis software based on an open source infrastructure. According to TechCrunch, a source confirmed the buyout, and stated that the deal could have cost Dropbox anywhere between $10 million to $50 million.

None of the firms commented on this matter. "Thanks for checking - we don't have any comments however!," said a Parastructure spokesperson to TechCrunch. They also made their website offline soon after.

Techcrunch's source added, "They had phenomenal business prospects going forward... They found a product-market fit and customers and were solving relational database problems no one else is tackling."

It is not known how Dropbox plans to integrate the Parastructure technology, but what we know for sure is that the deal would prove to be a big deal for the Dropbox users.

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