Global broadcast technology provider BroadStream Solutions has acquired OASYS, which specialises in automated playout software technology.
Already under common ownership and having spent some time in setting up the infrastructure, the time was right to bring the organisations and, most importantly, the Intellectual Property of the companies together. The owners have chosen to combine all of the operations under a global holding company, with regional sales and support offices servicing customers locally, offering the complete range of playout solutions for news, live production, turnaround operations and master control. This will enable BroadStream Solutions to serve additional global markets to those where OASYS currently operates, while also better positioning the OASYS products in the US.
The OASYS team will remain with the company and the company’s products will form a significant part of the product portfolio, becoming the basis of all playout innovation in the future. With both companies under the same brand name, BroadStream will strengthen its authority and expertise in playout workflow solutions, designing configurable solutions to the needs of its global customer base.
Owners Mark Errington (pictured) and Herbert Brenninkmeijer will remain as senior leaders within the business, with Errington adopting the role of CEO at BroadStream Solutions and Brenninkmeijer remaining chairman of the Board. BroadStream is also making a series of additional appointments to support business growth and reinforce its ongoing strength and innovation in customer service.
BroadStream Solutions’ acquisition of OASYS is for an undisclosed sum. The deal completed on 5 June 2014, and is not subject to any regulatory or company approvals.
Mark Errington CEO, BroadStream Solutions said, “The acquisition is great news for both OASYS and BroadStream customers who now have access to a wider range of products. The broadcast industry is undergoing a transformation, spurred by consolidation in the market sector, changes in customer consumption habits, spreading of advertising revenues, changing broadcaster budgets and rapidly updating technology. Now BroadStream and OASYS have joined forces, we are well placed to ensure that our customers gain maximum ROI, with better long-term flexibility of products, that can be reconfigured as channel requirements and workflows change.”