In a move designed to position it as the first true end-to-end physical to digital entertainment ecosystem, Toronto-based Cinram, a service provider to the entertainment industry, has acquired OTT delivery management specialist Saffron Digital for $47 million from HTC.
With offices in London and Beverly Hills, Saffron Digital specialises in the global management and delivery of premium multi-platform video services. Saffron’s Stage platform provides all the tools needed for Over-The-Top (OTT) or UltraViolet services and powers more than 30,000 premium movies on more than 100 million devices including smartphones, tablets and other online channels. Cinram is one of the largest global manufacturers and distributors of Blu-rays, DVDs and CDs for the world’s leading motion picture studios, record labels and game publishers.
Cinram, acquired by Najafi Companies earlier this year, also provides digital and creative services through its Los Angeles-based digital media agency, 1K Studios. 1K is known for its award-winning work in digital book and app development, enhanced user experience and consumer engagement.
Saffron Digital complements the current portfolio companies of 1K Studios and Cinram by providing a complete physical to digital delivery platform.
“Saffron Digital is an ideal partner to add to our Cinram portfolio,” said Najafi Companies CEO Jahm Najafi. “Its cloud-based digital content delivery and usage is industry-leading and adds further depth to our entertainment related investments and holdings.”
Cinram CEO Steve Brown, said that Saffron Digital had led the way n the field of Digital Rights Management, delivering a superior viewing experience across the spectrum of online devices. “This acquisition enables Cinram to build on its reputation as a complete end-to-end supply chain provider to the entertainment industry within the digital, as well as physical space,” he stated.
“Being part of such a successful international entertainment company like Cinram is a great move for Saffron Digital,” commented Jason Keane, Saffron Digital President. “It will enable us to significantly scale our existing digital business and build a unique premium content delivery platform that works seamlessly from physical through digital to the end user. Saffron Digital is a great fit within Cinram’s growing digital ecosystem and this acquisition will compliment both companies nicely as well as the needs of our industry.”
“Cinram’s acquisition of Saffron Digital will provide a truly aligned solution to consumer demand, enabling an easy transition for the consumer from the stunning experience of Blu-ray to storing favourite movies, music and books in the cloud and accessing them from anywhere,” said Brown.