Comcast has acquired Xumo, an ad-supported streaming service, ahead of the upcoming launch of Peacock, NBCUniversal’s streaming service.

The companies did not disclose the financial terms of the deal. Comcast said that Xumo will continue to operate as an independent business inside of Comcast Cable.

“The talented team at Xumo has created a successful, growing, and best-in-class set of streaming capabilities. We are excited for this team to join Comcast and look forward to supporting them as they continue to innovate and develop their offerings,” said Comcast in a news release.

The deal confirms reports that surfaced late last year about Comcast’s interest in the AVOD specialist.

RELATED: Comcast might buy Xumo ahead of Peacock AVOD launch – report

Xumo runs an ad-supported streaming service similar to apps like Pluto TV, Tubi and the Roku Channel. The company also builds branded AVOD apps for companies including LG and T-Mobile, and operates a platform called Elixir, which automates the process for running ad-supported streaming channels and adjusting programming and advertising in real-time.

“We can run what amounts to a cable TV-like experience with a very small team. We’re less than 50 employees at Xumo. We’re starting to help other companies manage their experiences with Elixir as a standalone enterprise offering,” Xumo CEO Colin Petrie-Norris told FierceVideo last year.

Xumo’s technology could be put to use in building the curated linear channels Comcast/NBCUniversal plans to include with Peacock.

Comcast/NBCUniversal may not be finished with M&A in the AVOD space. This week, the Wall Street Journal and Variety reported that NBCU is in talks to buy Vudu, a transactional video and free streaming service owned by Walmart. The publications said that NBCU may merge Vudu with FandangoNow, its own digital video platform.