Box on Monday revealed that it has acquired San Francisco-based cloud storage and file-sharing startup, Streem for an undisclosed amount.
Unlike Dropbox or Google Drive, Streem enables users to natively stream files in the cloud on their desktops without the need for local storage. The service basically turns the cloud into an extension of a user’s hard drive.
“Streem has developed amazing technology that allows you to mount a cloud drive onto your computer — making documents, presentations, videos and files available to you without the limitations of your local hard-disk, effectively turning the cloud into an ‘unlimited’ drive,” said Box CEO Aaron Levie in a release.
As a part of the deal, all the four Streem members will move to Box along with the company’s core technologies.
“We’re happy to announce that… our core technologies will be incorporated into Box,” Streem founders wrote in a statement on their website.
“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.”
The Streem team said they have already started working on setting up a seamless migration plan to transfer their user accounts to Box. Box has also not yet clearly outlined a specific timeline as to when users can expect to see Streem’s technology in their service.
The financial terms of the deal were not disclosed, but it is expected that the acquisition could have cost Box a blend of cash and stock.
