Masstech, SGL Merge to Form Major New Media-Management Player; Will Be Known as Masstech Innovations
Masstech and Software Generation Ltd. (SGL) are merging to become Masstech Innovations. According to a statement from the companies, the new entity will be the Broadcast and Media industry’s largest provider of solutions for managing the lifecycle of valuable media assets.
FPE Capital, the leading UK-based growth equity investor, becomes the majority shareholder in the expanded company, with Masstech President and CEO Joe French, who has taken an increased ownership position, running the combined business from the UK headquarters.
“The merger dramatically strengthens our business,” says French. “With over 600 active Blue Chip customers and 120 employees, we have the financial strength and the critical mass to provide the next generation media lifecycle management solutions and world-class support our customers are looking for. Our combined engineering teams will continue to develop easy-to-use tools to automate media movement and transcoding workflows, enabling users to both reduce costs and increase revenue opportunities by re-purposing content.”
SGL founders and directors Bernie Walsh, Dave Bray and Paul Moran will eventually retire after a period of consulting with the combined entity to ensure a smooth transition.
“We wanted to entrust our rich history, technology and relationships to a company that shares our customer-driven focus and spirit of innovation,” says Walsh. “Masstech’s values, culture and vision are a great fit for SGL’s customers, employees and solutions, and we’re confident that they will be great stewards to continue what we started.”
The merged organization has over 40 years of combined experience addressing the unique needs of broadcasters and media companies including television networks, post production facilities, news producers and sports enterprises around the globe.
“The merger provides us with an opportunity to grow and develop solutions, particularly on-ramps to the cloud and managed services, faster than we could have done as two smaller independent companies,” continues French. “Customers can rest assured that we will not leave anyone behind.”
Strategy and technology consultancy Media Asset Capital served as investment advisor for both Masstech and SGL. Financial terms of the deal were not disclosed.