Blackmagic Design Acquires Teranex in Video Processing Market Shakeup
In a move that heavily bolsters Blackmagic Design’s place in the video processing market, the Australia-based technology manufacturer has announced the acquisition of Teranex Systems. Teranex, a manufacturer of video processing products for the postproduction and broadcast industries, will now be a wholly owned subsidiary of Blackmagic Design.
“Teranex is a strategic acquisition for Blackmagic Design,” says Grant Petty, Blackmagic Design CEO. “Its technology, solutions and market complement our own efforts and its high quality video processing technology enables us to provide our customers with even higher levels of video quality – extending Blackmagic Design’s product range for the broadcast, feature film and high end post production markets.”
Under terms of the agreement, Teranex will retain its employees, customer responsibilities, and headquarters in Orlando, FL. In addition, Teranex will develop video processing platforms based on its patented SIMD architecture. According to a Black Magic representative, more details of the deal are currently being worked out and will be announced at a later date.
“This is an exciting milestone for our company,” said Mike Poirier, General Manager of Teranex. “We are extremely happy to be part of the Blackmagic Design team. Blackmagic Design’s global reach, leading edge technologies, widely recognized brand name, strong systems and networking expertise and worldwide customer relationships make it an ideal partner for Teranex.”