Masstech and Software Generation Ltd (SGL) have agreed a merger, forming under the name Masstech Innovations.
FPE Captial has become a major shareholder in the expanded company, which provides solutions for managing the lifecycle of valuable media assets. Masstech president and CEO Joe French (pictured), who has taken an increased ownership position, will run 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 organisation has over 40 years of combined experience addressing the 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,” added French. “Customers can rest assured that we will not leave anyone behind.”