Masstech CEO Joe French completes transaction with SGL founders Bernie Walsh, Paul Moran and Dave Bray
"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." -Joe French, CEO - Masstech Innovations Inc.
Toronto, Canada and Fareham, UK (PRWEB) May 31, 2017
Masstech and Software Generation Ltd. (SGL) are now one, to be known as Masstech Innovations Inc., 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,” said 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.”
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,” continued French. “Customers can rest assured that we will not leave anyone behind.”
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,” said 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.”
Strategy and technology consultancy Media Asset Capital served as investment advisor for both Masstech and SGL. Financial terms of the deal were not disclosed.
Masstech and SGL customers are invited to contact their respective sales representatives for details.
For more information about Masstech, please visit http://www.masstech.com.
About Masstech – Masstech provides innovative software solutions and proven expertise that media organizations trust to manage their valuable digital media content and related information throughout its lifecycle. Committed to exceeding expectations, Masstech delivers superior user experiences, unmatched ROI and efficient workflows that enable our customers to maximize operational performance and realize the full value of their content. Masstech is headquartered in Fareham, UK with international offices serving a marquee customer base that spans the globe. For more information, visit http://www.masstech.com.
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