A reinvigorated and albeit much smaller SeaChange International made an unexpected acquisition this week, picking up Danish streaming specialist Xstream in a cash and stock deal totaling a value of $5.5 million. SeaChange has long cited the importance of increasing SaaS revenues over its core product revenues, yet its last few financial reports will have done little to calm investors’ nerves – and the move is another reminder of the US vendor’s escape to Europe. Although we were surprised to see SeaChange dipping into the M&A pool given the major recent cutbacks, the transaction is interesting considering the vendor last month emphasized a multi-vendor approach following a deal with Russian OTT video platform provider Total Video. So, SeaChange will inherit…