Backlight, a new media technology company, has announced the acquisition of ftrack, iconik, Celtx, Wildmoka, and Zype, as part of a push into cloud-based media software.
The $200+ million deal has been backed by growth equity firm PSG, with the five companies becoming business units of Backlight.
Backlight said its mission is to serve media, entertainment, and video-forward customers with cloud-based solutions that “dramatically” improve every step of the media content lifecycle.
The investment from PSG also intends to support Backlight’s pursuit of additional add-on acquisitions of technology platforms that serve the media content lifecycle.
“I believe the explosion and democratisation of content creation, combined with the incredible growth and fragmentation of consumption, have created massive complexity and new opportunities for creatives and content owners,” said Ben Kaplan, president and CEO of Backlight.
“The market is demanding innovative, flexible, cloud-based solutions to modernise media workflows. With five incredible business units, each led by visionary CEOs delivering compelling, differentiated solutions, Backlight is well positioned to be a trusted partner for customers with mission-critical creative processes and video pipelines.”
Matt Stone, managing director at PSG added: “There is a large market opportunity to improve the way content producers, owners and distributors create value, starting with the media and entertainment industry but extending to any enterprise investing in rich media and video. Our investment in Backlight reflects our conviction in the market, the team, and a vision of a modern media production lifecycle, from ideation to monetisation.”
