Veset, an SaaS linear channel management platform provider, has announced a significant equity investment from PLAY.
PLAY is the leading media technology company in Japan and a subsidiary of Nippon TV. PLAY is focused on digital transformation in the media and entertainment industry by developing and offering innovative video distribution services. PLAY has integrated Veset’s platform into KRONOS, its own groundbreaking cloud playout service designed for the Japanese market.
Veset pioneered the concept of linear cloud playout in 2011. Since then, it has focused on delivering a true SaaS platform for linear television channel management. Veset offers two core SaaS products on its platform – Nimbus, its flagship advanced product for professional broadcasters, and Stratus, a simplified playout for VOD content owners and live event channel management. Veset’s platform leverages global public cloud technologies such as Amazon Web Services to deliver broadcast-grade linear television playout toolkit for both OTT and traditional linear distribution.
Igor Krol, CEO of Veset, commenting on the transaction said: “With the advance of cloud, IP and OTT video distribution, the evolution of linear television technologies is accelerating. Through this transaction, we are excited to build an even closer partnership with PLAY in order to provide innovative and high-quality video solutions to the Japanese market.”
Kazumichi Kuroda, CEO of PLAY, said: “For the past 12 months, PLAY’s team has been working closely with the Veset on advanced IP live stream channel management features, such as unique frame-precise live switching using SCTE35 markers. This transaction marks positive recognition of Veset team’s achievements and the importance of our partnership for PLAY.”
Daisuke Miyajima, COO of PLAY, added: “PLAY is excited to build a long-term technological partnership and jointly innovate with Veset’s team. PLAY is the leader in the OTT technology market and offers a wide range of services such as OVP (online video platform) and CMS (content management system) to the leading Japanese content owners and distributors. KRONOS will further strengthen our position by offering a broadcast-grade solution for linear television. We look to leverage Veset’s expertise outside Japan and also share with them our know-how derived from leading Japanese customers.”