Triller, a TikTok Rival, to Go Public in $5 Billion Merger

Triller, a social-video platform, agreed to a merger with Seachange International Inc. in a move that will take the smaller rival to TikTok public.

The transaction will value Triller at about $5 billion -- a four-fold increase over its recent valuation of $1.25 billion, according to PitchBook. It’s expected to close in the first quarter, the companies said in a statement Wednesday.

The deal links up Triller with a publicly held company, letting it bypass an initial public offering. Seachange describes itself as a provider of video delivery, advertising and streaming platforms. The Acton, Massachusetts-based company is led by Chief ...