Asian Tech Press (Dec 23) -- Short-video platform Triller will go public through a reverse merger with publicly traded Seachange International Inc. that will value the company at about $5 billion.

The merger deal is expected to be completed in the first quarter of next year, the two companies said in a statement on Wednesday. The new company will be called TrillerVerz Corp and will be led by Mahi de Silva, chief executive of Triller's parent company. The ticker symbol will be "ILLR.

Triller is a short-form video platform similar to TikTok, downloaded 250 million times worldwide. The company also owns Triller Fight Club, a live events platform with rapper Snoop Dogg, and operates TrillerTV, a streaming platform with more than 65 original shows.

Seachange, a company that provides video delivery, advertising and streaming platforms, saw its shares rise 70 percent at one point to $3.05 in early trading on Wednesday.