Streem is different from other cloud providers in that its technology makes the personal cloud function as seamlessly as possible. The software embeds itself directly into the OS, acting as an extension of your PC’s hard drive without using local storage, while its secret sauce enables rapid media playback.
That’s impressive, but it’s not all Streem has to offer. The service also offers unlimited storage in the cloud for just $20/month, made possible thanks to the way it aggressively compresses and deduplicates data. Technology that will surely be put to good use by Box.
Following the deal, the price of which was not disclosed, Box says users who migrate to its own service will be given 50GB of cloud storage.
The benefits for Box are obvious enough. In a blog post, Box’s CEO Aaron Levie said customers in various industries had already said they could see the benefits of integrating Streem’s tech with Box’s own.
“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,” Levie wrote. “For enterprises in regulated industries like Life Sciences and Financial Services, it means better protection and control of information and where it lives.”
Levie hasn’t said when these new features might be integrated into Box, but we’d imagine it’s going to be sooner rather than later, given Streem’s entire staff has now joined the larger company.
Streem hasn’t been around all that long, having only just launched in mid-April after raising $875,000 in funding. All Box would say regarding the terms of the deal was that it was funded partly by cash and partly by stock, and that it would close “in the coming weeks”.