Masstech Group, whose solutions enable media companies to save, share and transform content, has signed a letter of intent to acquire the products and technology of PlayBox Technology, a provider of channel-in-a-box solutions for television. The shareholders of PlayBox Technology will continue to own and operate Playbox’ system integration, support centre and worldwide distribution through its eight offices in Europe, Asia and the US, and their associated reseller networks.
“The success of Masstech’s solutions and the dynamic changes being driven by consolidation in the broadcast market signaled to our shareholders, who represent some of the largest Venture Capital and Private Equity firms in Canada, that now is the right time to make strategic additions to the Masstech product portfolio,” said Masstech CEO Joe French. “Adding PlayBox enables us to extend the Masstech platform to create the first fully integrated broadcast environment that includes playout and graphics within the asset management system. Our partnership with PlayBox will also significantly expand the worldwide distribution of Masstech’s products and solutions through the PlayBox network.”
The expanded Masstech solution will see assets managed by an open platform across the entire broadcast chain, including ingest, production, and transmission, and embracing legacy infrastructure across all popular editing, automation and playout systems.